(Bloomberg) -- CGI Inc., one of Canada’s largest tech-services firm, is on a merger and acquisition spree and says it has enough dry powder for more takeovers.

The company agreed to buy UK-based technology and software engineering consultancy firm BJSS Ltd., it announced Wednesday. The deal comes after CGI bought Daugherty Business Solutions LLC, a St. Louis-based firm that specializes in artificial intelligence and data, in December. 

CGI will add more than 3,500 consultants to its 91,000-person global workforce once the deals close. No financial details were provided.

“We have a lot of space for other ones, including transformational acquisitions,” CGI Chief Executive Officer Francois Boulanger said in a conference call with analysts. 

He added that market pressures in the systems integration consulting business are pushing some targets “to think more” about selling, and competition from private equity firms has slowed down.

The company had C$1.8 billion ($1.2 billion) in cash and cash equivalents as of the end of 2024.

One of CGI’s major clients is the US government, including “nearly every cabinet-level federal agency, military branch and other federal entities,” according to its website. 

Boulanger said the new Department of Government Efficiency, US President Donald Trump’s new cost-cutting entity that’s led by Elon Musk, is likely to boost CGI’s business.

“They will need to bring automation, AI and new systems to be capable of reducing some of these costs,” Boulanger said. 

Last year, the firm acquired Aeyon in the US and the credit union business of Celero in Canada.

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