CGI intends to make more acquisitions as part of its business expansion efforts and the Canada-based information technology consulting firm indicated it has at least 780 companies in its “active” pipeline, CRN reported Wednesday.
“Over 80 percent of that current funnel, and we’ll be adding to that, is generated from clients and business leaders, not just from investment bankers,” CGI CEO George Schindler said.
“That tells you something about how fragmented the industry is, but also the interest in (CGI) and the need [for us] to continue to be a consolidator,” Schindler added.
Some of the companies acquired by CGI over the past year include Colorado-based IT consulting firm ECS Team, Alabama-based software consulting firm CTS and Boston, Massachusetts-based Collaborative Consulting.
Schindler said those transactions share a common factor and that is the inability of small firms to meet digital transformation demand from large enterprises.
This story was originally published on August 4, 2017.