July 14th, 2024

CGI acquiring tech services company Celero from Prairie credit union centrals

By The Canadian Press on July 4, 2024.

MONTREAL – CGI Inc. says it has signed a deal with the three Prairie credit union centrals to acquire Celero, a provider of technology services to credit unions and financial institutions.

Financial terms of the deal with the Credit Union Central of Manitoba, the Credit Union Central of Saskatchewan and the Credit Union Central of Alberta were not immediately available.

Under the agreement, CGI will acquire Celero’s managed services business with more than 90 credit unions and create new partnerships with the centrals.

More than 150 Celero employees will also join CGI.

Celero was established as a joint venture by the three Prairie centrals to provide core banking and other technology services to credit unions.

CGI is one of the world’s largest technology and business consulting firms.

This report by The Canadian Press was first published July 4, 2024.

Companies in this story: (TSX:GIB.A)

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