JERSEY CITY, N.J., Jan. 25, 2006 (PRIMEZONE) -- The CGI Group America, Inc. announced today the completion of the purchase of ADP Graphic Communications, Inc. (NYSE:ADP), the financial and commercial printing services business of ADP Brokerage Services Group, in a cash for stock transaction. Terms of the transaction were not disclosed.
The CGI Group is made up of the former international printing operations of Cunningham Graphics International, Inc., which were divested by ADP in February 2004. Those operations were acquired by The CGI Group in a management buyout.
Concurrent with the closing of the transaction, the affiliates of The CGI Group and ADP have entered into an exclusive joint reseller arrangement in order to continue to service financial print clients that currently use a single source solution that combines planning, printing and distribution of shareholder communications for corporations and investment companies. Through this arrangement, new and prospective clients will have access to a single source solution and its unique benefits.
Peter Furlonge, Chairman, The CGI Group, commented, "We are very pleased to complete this transaction and are extremely eager to rejoin the businesses of Cunningham Graphics International, Inc., and take them to new levels as a premier global print and communications provider." Continuing, Mr. Furlonge said, "The value that ADP has brought to this business and the international business is immeasurable and will be leveraged every day."
"This choice makes sense for our business and we are pleased to complete this transaction with one of the original principals of Cunningham Graphics International, Inc.," commented Rich Daly, co-President, ADP Brokerage Services Group. "ADP has a strong relationship with CGI, and we expect a smooth transition for the financial services firms that rely on us as their business partner."
About the CGI Group
Together with this transaction, The CGI Group is a leading provider of worldwide print and communications with roughly $140 million in revenues and 800 employees. The business operates in strategic geographic markets worldwide including Jersey City, London, Hong Kong, Tokyo, Sydney, and Manila. The CGI Group is the world's largest producer of time-sensitive investment research, the 4th largest financial printing company in the United States and one of the largest commercial printers in the North-eastern United States.