Prairie Credit Union Centrals complete sale of Celero to CGI

Torys acted as counsel to Credit Union Central of Manitoba, Credit Union Central of Saskatchewan and Credit Union Central of Alberta, with a team that included David Seville, Stephen Neil, Sarah Strong and Mitchell Hayes (corporate/M&A), Adam Armstrong (technology contracting), Tom Stevenson and Parker Baglole (employment) and Saira Bhojani (tax).

On July 3, 2024, Credit Union Central of Manitoba, Credit Union Central of Saskatchewan and Credit Union Central of Alberta completed the sale of the business of Celero Solutions Inc. (“Celero”), a leading provider of IT solutions to credit unions and financial institutions across Canada, to CGI Inc. (“CGI”), a leading global IT and business consulting services firm.

Under the terms of  the agreement, CGI acquired Celero's services and business which includes core banking, digital banking, managed services, integration, and security. 

Further information can be found on Newswire’s website.

Celero is a leading provider of IT solutions to credit unions and financial institutions across Canada.

CGI is among the largest independent IT and business consulting services firms in the world and 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.

Credit Union Central of Manitoba is the trade association and a key service provider for Manitoba's credit unions.

Credit Union Central of Saskatchewan is owned by, and is the liquidity manager for, Saskatchewan's credit unions.

Credit Union Central of Alberta is the central banking facility, service bureau and trade association for Alberta's credit unions.