CGI Acquires Summa Technologies, $35 Million IT Consulting Firm
CGI has acquired Summa Technologies, a 200-person IT consultancy and seven-time Inc. 5000 honoree that has software development expertise and a strong business footprint in the Pittsburgh, Pa., area. Financial terms for the all cash deal, announced today, were not disclosed.
Summa’s 2016 revenues were about $35 million, and the company has grown about 44 percent over the past three years, according to the Inc. 5000 report for 2017.
- Summa’s technical skills span mobility, agile transformation and user experience design. The company serves banking and financial services, retail, manufacturing and healthcare, CGI indicated.
“Merging with Summa is another step toward fulfilling our strategic objective to double the size of our company through a balanced blend of organic and acquisition growth,” said CGI President and CEO George D. Schindler, in a prepared statement. “Summa adds capabilities, strength, and size to our U.S. business, allowing us to create additional focus in one of our target growth metros.”
Side note: Summa leverages FinancialForce for PSA and business automation capabilities. We’re checking to see if CGI has standardized on a particular business automation platform.
CGI’s Broader Strategy
Summa is CGI’s fourth strategic consulting acquisition in the U.S. in the 2017 fiscal year. We’ve reached out to CGI for more information about the three other deals. Separately, CGI Nordic Investments Limited (another CGI subsidiary) is acquiring Affecto Plc, a provider of business intelligence and enterprise information management solutions and services.
CGI employs 12,000 professionals in 80 cities and 34 states. The firm is part of CGI Group Inc., the fifth largest independent IT and business process services firm in the world, the company says. The overall business has annual revenue in excess of C$10 billion and an order backlog exceeding C$20 billion, CGI Group Inc.