CGI Group Wins Contract from Shell - Analyst Blog
CGI Group , Inc . ( GIB ) was recently awarded a contract by oil and gas major Royal Dutch Shell plc ( RDS.A ) to serve as a lead Key Application Services (KAS) supplier for Shell's Projects & Technology business. The deal has been signed for a five-year term. The other financial terms and conditions are not yet known.
As per the agreement, CGI Group will support the Technical and Competitive IT (TaCIT) unit. The primarily task of the TaCIT unit is to provide innovative technical IT solutions and services for the Upstream and Downstream businesses of Shell.
TaCIT's parent company, Shell, is one of the largest integrated energy firms in the world and the second largest natural gas producer in the world. The company explores and extracts crude oil, natural gas, and natural gas liquids. It also converts natural gas to liquids to provide fuels and other products.
CGIGroup will support three key portfolios of TaCIT: Subsurface and Wells; Engineering and Smart; as well as Projects and Technology CIO Services.
The recent collaboration is an extension of the 15-year association of both the companies. It is expected that CGI Group will provide Shell with the most appropriate solution to strengthen the latter's industry position and increase its core competencies.
CGI Group believes that its innovative solutions will aid Shell's TaCIT unit in sustaining top quartile performance from its information technology portfolio.
CGI Group is an independent information technology and business process services firm, with about 69,000 employees across the United States, Europe and the Asia Pacific. The company's services include high-end business and IT consulting, systems integration, application development and maintenance, infrastructure management and a variety of proprietary solutions.
CGI Group currently carries a Zacks Rank #3 (Hold). Better-placed stocks in the industry worth considering include Carbonite, Inc. ( CARB ) and Lionbridge Technologies Inc. ( LIOX ) . Both of these have a Zacks Rank #2 (Buy).
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CGI GRP INC -A (GIB): Free Stock Analysis Report
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