CGI (TSX: GIB.A) (NYSE: GIB), one of the largest independent IT and business consulting services firms in the world, has been selected by Market Operator Services Ltd (MOSL), the operator of the non-household water retail market in England, to continue management of their core platforms—the Central Market Operating System (CMOS) and the centralized bilateral transactions 'hub'—which all trading parties use to initiate and manage bilateral transactions. The contract is valued at $18.7 million (£11.5 million).

Simon Powell, Chief Information Officer at MOSL said, "By working closely with CGI, we will be able to drive both efficiency and innovation while continuing to provide a reliable service that delivers value for money for both retailers and wholesalers. Partnering with CGI we will continue to deliver a well-functioning market whilst developing the capabilities for the future."

The continued evolution of this longstanding collaboration between CGI and MOSL will focus on implementing new capabilities to support initiatives such as significantly increasing the use of smart meters, which will help address sustainability challenges such as water leakage and the need to reduce its consumption.

Paul Buxton, Vice-President, Utilities and the North East for CGI in the UK said, "The extended contract will enable CGI to support MOSL's ambitious plans for improvements across the water sector, while continuing to provide a stable platform which enables the non-household water market to run in the most efficient and frictionless way possible."

Following a successful migration to the cloud, the CMOS platform supports the competitive water market operations, including the collection and maintenance of essential data, facilitating customers' ability to change suppliers, and ensuring smooth settlement and payments between retailers and wholesalers. Additionally, the platform enables MOSL to enhance customer service and provide more choice for business customers.

About CGI

Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 90,500 consultants and 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. CGI Fiscal 2023 reported revenue is CA$14.30 billion and CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com.

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