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CGI Up 0.6% In US Premarket As IT and Telia In Agreement for Business Services Transfer and New Strategic Partnership

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CGI (GIB-A.TO, GIB) and Telia signed an agreement for a business transaction and a strategic partnership, it said on Monday.

Under the business deal, Telia's cloud and capacity services for enterprises, and IT end-user services in Finland, will be transferred to CGI, subject to customary regulatory approvals. Nearly 250 Telia employees will join CGI to support the ongoing development and delivery of these services, it said.

The companies are launching a strategic partnership through which CGI will support Telia's business operations with "scalable, secure services that leverage cloud technology," while Telia will support CGI's growth through "secure data center infrastructure and network services," it said. Telia's Helsinki Datacenter is not included in the transaction, it added.

"The additional data center capacity that will become available to us - significant on a Nordic scale - and the high-security solutions available through this partnership help us meet clients' growing demand for secure and scalable IT environments that can handle enterprise AI integration," said CGI President of Finland, Poland and Baltics operations Niraj Sood.

U.S.-listed shares of CGI were last seen up 0.6% at US$70 in pre-market trading.

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