“CGI (NYSE: GIB) (TSX: GIB.A) announced its intent to acquire TeraThink, a leading information technology and management consulting firm providing digitization, enterprise finance, risk management, and data analytics services to the U.S. federal government. The two companies signed an agreement to proceed with the transaction, which is expected to close by the end of March.”
“This merger will strengthen CGI Federal’s consulting expertise, and expand its enterprise application development and management services. Combining TeraThink’s agile enablement, application development, and data analytics capabilities with CGI’s Federal’s breadth of IT services will enhance offerings available to federal agencies. This merger will significantly increase the scale of enterprise applications support CGI Federal provides to all three branches of government…”
Source: CGI to Acquire TeraThink – March 25, 2020. CGI.
G2X TAKE: Outside of a Prime role TeraThink maintains providing IV&V Services in support of the VA’s Financial Management Business Transformation Program, and some recent past performance at FDA providing OFM financial systems support, this planned acquisition has limited immediate impact from a Federal Health perspective, but any time a major Federal Health player acquires a Federally-focused consultancy that specializes in digitization, enterprise finance, risk management, and data analytics services, it is worth taking note.
Included below is a snapshot of Obligated Funds by Funding Account and Fiscal Year for TeraThink