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November 14, 1995

SLOW GROWTH AT IBM’s ACQUISITIVE CGI

By CBR Staff Writer

Still in the process of integrating itself with IBM Corp, French software engineering firm CGI SA, bought by IBM Europe two years ago, expects to see its 1995 revenues inch forward to some $447m from about $408m, says Les Echos. The company, which also waged a merciless price war in the service sector, also expects to see its operational profit drop from last year’s 8.7% to 6%. However, says president Christian Nivoix, in 1996, we will have double-digit revenue growth, and an operational margin of at least 10% beginning in 1997. In 1995, the company saw negligible growth in its home market, compared to 20% abroad. CGI says it is looking for an acquisition, notably in Scandinavia.

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