He's a stealthy giant. It is worth more than $20 billion in stock market and has 5,500 customers worldwide, including some of the major Ibex 35 groups. Its strength is to advise on the technological development of companies, especially in everything related to digitalization. The Canadian consultancy CGI was born 46 years ago and throughout its history has specialized in growing through acquisitions: it has purchased more than 70 rivals. Its founder, who was also CEO until 2006, is Serge Godin (Saguenay, Quebec, 1949), one of the richest men in the American country, with a fortune, according to Forbes, of $2.7 billion.

Godin is the prototype businessman made to himself. He was born in a family of nine brothers. Still a kid, he started working on his father's mill. The business suffered irreparable damage from a fire and had to learn to seek life. “The four older children had to contribute to the family economy. I worked in a supermarket in the evenings and a dry cleaning on weekends. It was a very formative experience,” she told in an interview she gave to Radio-Canada. He graduated in computer science and business administration. After completing her studies, she started working as a consultant. He saved 5,000 Canadian dollars with which he created CGI in the basement of his home in Quebec. He was 26 years old. He obtained his first contract from the Ministry of Social Affairs of the French-speaking Canadian province to develop information systems. At that early stage, he was supported by André Imbeau, a childhood friend, who soon joined the project. A turning point for the consultant came when she was commissioned to launch a plan to computerize the local university. From that point on, Godin and Imbeau started winning contracts over the next decade.

The company has not stepped down on acquisitions. In 2022 it carried out five such transactions (with an investment of around EUR 459 million). Managers point out that the priority is to increase the depth in each market where they are already present before jumping to other countries. Among the rosary of operations that the consultant has signed is one in Spain. “Our desire to continue expanding in southern Europe, particularly in Spain, as well as in Latin America, was driven by the acquisition of Cognicase Management,” says Laurent Gerin, president of the company for southern Europe.

Presence in Spain

About half of CGI customers in Spain belong to the Ibex 35. The company's centre in Bogotá also plays a major role in its global strategy. Currently, the Canadian firm has over 2,000 consultants in eight Spanish cities and Latin America. Professor Geha emphasizes that the company’s business model, based on international expansion, has been very effective: “He has brought his know-how to other places, but he has done so by buying local companies that know the characteristics of each country well”.

CGI earned revenue of $12,870 million (about €9,200 million) in its fiscal year 2022; growth of 6.1% over the previous financial year. The net profit was 1,470 million in the Canadian currency, a year-on-year increase of 7.1%. The prospects for 2023 are just as good. The company presented the results of the first quarter of fiscal year 2023 on 1 February: it had revenues of 3,450 million Canadian dollars (11.6% more) and gained 382 million, an improvement of 4.1% over the same period of the previous year.

Jean-Michel Baticle, CGI Operations Director, stresses that the company has “over 46 years with proven best practices and frameworks to ensure delivery of high quality and safety projects.” This strategy, he believes, allows his consultants “to maximize the time dedicated to clients to support and innovate”. In Baticle’s view, it is about “prioritising operational efficiencies and generating cost savings to finance and accelerate investments in digitalization, including crucial modernization initiatives.”

The Canadian firm employs some 90,000 people in about 40 countries. His headquarters are in Montreal. Godin no longer performs executive functions, although he continues to coordinate the Board of Directors, which his daughter, Julie Godin, has been co-chair since 2020. Divya Goyal, analyst of Scotiabank, highlights in a recent report on the company another element that has characterized CGI: “It is a company run by its founders and all its senior executives have over a decade in signing, joining as consultants or through acquisitions.” Goyal stresses that these people rotate through several divisions before assuming greater responsibilities, thus forming a team that knows the company model and customer needs in detail.

If technology is gaining a major weight within companies, threats are also associated with digitisation. Criminal practices like phishing are some of the dangers. In this respect, CGI maintains constant communication with customers. In a survey last year, executives of companies using their services cited cybersecurity as the second priority; in 2021 it had held fifth place. “We are committed to helping organizations plan, protect, train and respond quickly to potential cyber threats,” says Laurent Gerin. “We also have security operations centers worldwide to offer detection and prevention services 24 hours a day,” he adds.