CGI announces a net fall in income of 30 percent, the news comes as the Canadian IT firm seeks to acquire UK outsourcing giant Logica.

The third-quarter results posted saw profits fall by C$87.2 million.Michael Roach, CEO of CGI, said: “Our continuing ability to generate significant cash from operations positions us to fully meet our strategic and financial commitments, including the transformational business combination with Logica which we expect to close in the current quarter.”

The Logica deal will cost CGI £1.7biilion and a further £322 million when the company takes on Logica’s net debt.