LähiTapiola Group extends outsourcing contract to 2021 with CGI joint venture LTC-Otso
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CGI and LähiTapiola Group established LTC-Otso as a joint venture in 2013 to deliver ICT services to the banking and insurance business of LähiTapiola Group and its subsidiaries. LähiTapiola Group is one of the largest insurance companies in
"Continued investment in this partnership is well worth the returns," said CEO
Managing Director of Tieto-Tapiola Janne Kärkkäinen, who was responsible for contract negotiations on behalf of LähiTapiola Group, noted, "ICT outsourcing has turned out to be so profitable that we wanted to extend our partnership before the existing contract period expired."
"This extension demonstrates that our partnership has been productive and has generated sustainable value," said LTC-Otso's Managing Director
"LTC-Otso is an excellent demonstration of how CGI's service models work in
Extension of the LähiTapiola Group ICT outsourcing agreement is conditional upon the end of the appeal period of the
About CGI
Founded in 1976,
About LTC-Otso
LTC-Otso is a joint venture of CGI and LähiTapiola Group, specializing in IT solutions for the insurance and banking sectors. The 300 IT experts employed by LTC-Otso provide extensive business and solution consulting services, as well as product and integration solutions. Specifically, the company delivers insurance, financial management, banking, payment transaction and invoicing services, and also specializes in supporting the needs of online business, financial and HR administration. Its clients include Elo, Etera, LähiTapiola Group, S-Pankki and Turva. For more information, visit www.ltc-otso.fi.
About LähiTapiola
LähiTapiola is a mutual group owned by its customers. LähiTapiola's network comprises 20 regional mutual insurance companies and LähiTapiola Vahinkovakuutusyhtiö, responsible for statutory and corporate insurance. The regional companies offer their customers a comprehensive range of insurance, banking, savings and investment services. In addition to LähiTapiola Vahinkovakuutus and the regional companies, the group includes LähiTapiola Henkiyhtiö, LähiTapiola Varainhoito and LähiTapiola Kiinteistövarainhoito. LähiTapiola
Forward-Looking Statements
All statements in this press release that do not directly and exclusively relate to historical facts constitute "forward-looking statements" within the meaning of that term in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended, and are "forward-looking information" within the meaning of Canadian securities laws. These statements and this information represent CGI's intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, of which many are beyond the control of the Company. These factors could cause actual results to differ materially from such forward-looking statements or forward-looking information. These factors include but are not restricted to: the timing and size of new contracts; acquisitions and other corporate developments; the ability to attract and retain qualified members; market competition in the rapidly evolving IT industry; general economic and business conditions; foreign exchange and other risks identified in the press release, in CGI's annual and quarterly Management's Discussion and Analysis ("MD&A"), in CGI's Annual Report, in CGI's Annual Report on Form 40-F filed with the
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