CGI Acquires ARRAY Information Technology, Inc.
Expands footprint into U.S. Air Force and Space Command
October 4, 2021 Fairfax, Virginia – CGI (NYSE: GIB) (TSX: GIB.A) announced its acquisition of ARRAY Information Technology, Inc., a leading application service provider that leverages its expertise to optimize mission performance for U.S. Department of Defense and other government organizations. This merger will expand CGI’s footprint into strategic markets, such as the U.S. Air Force and Space Command, and strengthen its digital modernization and DevOps capabilities. The McLean Group advised ARRAY Technologies, Inc. on its sale; the terms of the transaction were not disclosed.
ARRAY brings approximately 275 professionals to CGI, while enhancing and accelerating CGI’s position as a leading provider of digital modernization services to meet the growing demand of U.S. public sector clients. The combined portfolio of enterprise application expertise in modernization, DevSecOps, cloud, data analytics and cybersecurity further strengthens CGI’s position as a powerful end-to-end solutions provider to federal, state and local governments.
“ARRAY has made significant contributions to the missions of U.S. government organizations,” said CGI Federal President, Stephanie Mango. “This transaction is consistent with CGI’s ‘Build and Buy’ strategy and will expand CGI’s reach into strategic public sector markets.”
Furthermore, The McLean Group Managing Director Mitchell Martin commented, “This transaction was a fantastic outcome for both ARRAY and CGI and it was an honor to work with Sumeet Shrivastava, Bob Deegan and the rest of the ARRAY leadership team.“
About CGI Federal
CGI Federal Inc. is a wholly-owned U.S. operating subsidiary of CGI Inc., dedicated to partnering with federal agencies to provide solutions for defense, civilian, healthcare and intelligence missions. Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 78,000 consultants and other professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. With Fiscal 2020 reported revenue of C$12.16 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at www.cgi.com.
About ARRAY Information Technology Inc.
Founded in 1997, Array Information Technology is a leading provider of enterprise application services, software development, systems engineering, and critical mission support solutions to the federal government. To learn more, please visit www.arrayinfotech.com
About The McLean Group
For over 30 years, The McLean Group has been providing investment banking and financial services offerings focused on the Defense, Government & Intelligence (DGI), Security, Critical Infrastructure, Maritime, Facility Services, Unmanned Systems, and Public Safety markets. Our 60+ professionals bring deep industry experience and relentless execution to every client engagement. We provide solutions that blend financial creativity with operational expertise. Whether we are providing transaction advisory, valuation opinions, or growth capital, our services are unmatched in these core markets. Learn more at www.McLeanLLC.com.
RECENT NEWS
Labor Retention and Quality of Earnings: Understanding People-Driven Margin Risk
Workforce stability is one of the most overlooked drivers of earnings quality and in people-driven businesses, it can make or break a transaction.Workforce stability is one of the most overlooked drivers of earnings quality and in people-driven businesses, it can make or break a transaction. In this article, The McLean Group’s Financial Consulting team examines how labor retention risk surfaces during a Quality of Earnings analysis, why below-market compensation and key-person dependencies can distort reported EBITDA, and what buyers and sellers should evaluate before reaching the diligence table. From government contracting to IT services and professional services, the people behind the numbers matter just as much as the numbers themselves, and understanding that dynamic is increasingly essential to assessing the true sustainability of earnings in any middle market transaction.[…]
How Earnouts Affect Transaction Valuation: The Technical Framework Under ASC 805
Earnouts are one of the most powerful and most misunderstood tools in middle-market M&A. When buyers and sellers cannot agree on value, a well-structured earnout bridges the gap. But under ASC 805, the accounting treatment is anything but simple: contingent consideration must be measured at fair value on Day One, classified as liability or equity with real P&L consequences, and remeasured every reporting period for the life of the arrangement. For PE sponsors and portfolio company CFOs, the decisions made at the term sheet stage, including metric selection, settlement structure, and discount rate methodology, determine not just deal economics but how results are reported to lenders, boards, and investors long after close. This article breaks down the technical framework so you can structure earnouts that work the way you intend them to. […]
Monthly Middle Market M&A Insider Report (April 2026)
The McLean Group’s April 2026 M&A Insider Report tracks deal activity across Defense & Government, Physical & Cyber Security, Critical Infrastructure, and Maritime. This month’s edition highlights notable transactions including York Space Systems’ $355M acquisition of satellite communications firm ALL.SPACE, Scale AI’s acquisition of defense data analytics firm ICG Solutions, and Ondas’ two-deal sprint adding World View Enterprises and Mistral to its autonomous intelligence portfolio. The report also includes public company trading comps and EBITDA valuation multiples across all four sectors. Public market multiples are provided for reference purposes and reflect traded equity values, which may differ materially from private company transaction pricing. Download the full report at mcleanllc.com.