1009 ET - CGI's CEO says that the Canadian IT firm has plenty of cash to put towards acquisitions this year, including transformational ones. Francois Boulanger says in an earnings call that the company doesn't have a real target set for the year, but noted that CGI has about C$1.7 billion to C$1.9 billion in cash and lots of leverage leeway to work with. "We have lots of dry powder to do acquisitions, and we have the balance sheet and a low leverage ratio," he says. "We don't have a number, but the only cap we have is the 3x leverage," he says, noting that the current ratio remains far lower. "Lots of space for M&A, including transformational acquisitions," Boulanger says. (adriano.marchese@wsj.com)
(END) Dow Jones Newswires
January 29, 2025 10:09 ET (15:09 GMT)
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