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Serge Godin becomes billionaire following CGI-Logica merger

August 7
3:15 PM 2013

Serge Godin, the founder of CGI Group Inc., stated the "stars were aligned" when he took advantage of the strong Canadian dollar and falling European economy to purchase Logica Plc for US$2.6 billion in 2012. An increase in the share values of CGI transpired which made Godin a billionaire.

CGI, an information-services corporation headquartered in Montreal, climbed by 53% in 2013 on the Tokyo Stock Exchange. This resulted to a jump in the company's market value to Can$10.9 billion or U$10.5 billion. According to CGI, Godin currently owns 31.9 million stocks valued at over US$1 billion.

"The timing of the deal when European assets were depressed and Canadian dollar was strong has worked very well," Raymond James Ltd.'s analyst, Steven Li, said. "They still have to execute but so far so good, especially given the most recent quarter."

Godin, a 63-year old billionaire stated the decision to purchase Logica was due to his belief that rich corporations in Europe would invest in technology. He added that Europe would not fall even if its sovereign debt crisis was raging when he acquired Logica.

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