Business
Alithya Adds C$600 Million Backlog Through Closing of Acquisition of R3D Conseil
Alithya Adds C$600 Million Backlog Through Closing of Acquisition of R3D Conseil ...
About this update from Alithya Group, Inc. Class A
[{"type":"text","content":"\n \n \n \n Alithya Adds C$600 Million Backlog Through Closing of Acquisition of R3D Conseil\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Set to create 350 new strategic IT jobs\n \n \n \n \n \n MONTREAL\n \n , April 1, 2021 /CNW Telbec/ - Alithya Group inc. (TSX: ALYA) (NASDAQ: ALYA) (\"Alithya\") is pleased to confirm the closing of its previously announced acquisition of R3D Conseil Inc. (\"R3D Conseil\"), a private digital solutions firm. This transformative transaction includes commercial commitments totalling approximately\n \n C$600 million\n \n in combined revenues during the initial 10-year term agreements. This represents annual minimum volume commitments of\n \n C$60 million\n \n , which firms up approximately C$25 million of existing volume and adds approximately\n \n C$35 million\n \n of new business, mainly in digital transformation and high added-value areas.\n \n \n With nearly 600 new Québec-based professionals from R3D Conseil and at least 350 jobs to be created as a result of the transaction, Alithya will now surpass 3,000 professionals, making it one of\n \n Canada's\n \n largest digital transformation firms and the largest Québec-based technology firm listed on NASDAQ.\n \n \n \n \n Paul Raymond\n \n , President and Chief Executive Officer, Alithya:\n \n \n \"We are delighted to welcome 600 new professionals and to create at least 350 jobs in digital transformation as well as creating a Digital Center of Excellence in the insurance industry to service the growth in that sector. The\n \n C$600\n \n million long-term commercial agreements and current initiatives will provide our professionals with stimulating projects which have already begun to take shape. The integration should be completed in the coming months, allowing us to pursue the strong acquisition strategy laid out in our strategic plan.\"\n \n \n R3D Conseil's operations are highly complementary and will integrate seamlessly into Alithya's current structure, allowing for short a...