CGI Fairfax completes cash tender offer for Stanley Inc.
- August 17, 2010
CGI Group Inc. said Tuesday that subsidiary CGI Fairfax Corp. has completed its cash tender offer to purchase all of the outstanding shares of Stanley, Inc.
CGI Fairfax will pay at the offer price of $37.50 per share and is in the process of completing a “short-form” merger so that Stanley, an Arlington-based provider of systems integration and professional services to the federal government, will become a wholly-owned subsidiary of CGI Federal Inc.
“Completing the strategic merger with Stanley will solidify our position in the U.S. market, specifically in the massive $80 billion federal government market, opening up the defense and intelligence space and providing a window on the full spectrum of opportunities across the U.S. government,” Michael E. Roach, president and CEO of Canada-based CGI, said in a statement.