By Robb M. StewartCGI struck a private agreement to buy 250 million Canadian dollars ($185.4 million) worth of shares held by the information technology and business consultancy firm's founder and executive chairman. The company said it plans to buy for cancellation roughly 1.7 million class A voting shares indirectly held by Serge Godin at C$149.26 each, a 3% discount to Thursday's closing price. The company said Godin is selling the shares for estate-planning purposes. In late January, CGI said it intends to renew a share-buyback program for up to 10% of its issued and outstanding common shares over the course of one year. Write to Robb M. Stewart at robb.stewart@wsj.com(END) Dow Jones NewswiresFebruary 23, 2024 07:02 ET (12:02 GMT)Copyright (c) 2024 Dow Jones & Company, Inc.

Source: Wall Street Journal February 24, 2024 00:13 UTC