CGI Passes RIM as Investors Back European Bet
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CGI Group Inc.’s $2.6 billion bid for Logica Plc catapulted it past Research In Motion Ltd. to become Canada’s most valuable technology company as investors embraced its bet on Europe.
“Multiples of European companies have been dropping, the dollar has strengthened against the pound and financing conditions are attractive,” CGI Chairman Serge Godin said yesterday in an interview in Montreal. He founded the company in 1976 before handing over the top job to Chief Executive Officer Michael Roach in 2006. “The stars were aligned.”