M&A

May 31, 2012

CGI Group Inc. (NYSE: GIB) of Canada has agreed to acquire European IT services company Logica (LSE: LOG) for £1.7 billion, plus the assumption of £322 million in net debt. The 105 pence per share offer represents a 59.8% premium to yesterday’s closing price. www.logica.com

Shutterfly Inc. (Nasdaq: SFLY) has acquired Photoccino, an Israel-based online social expression and personal publishing service. No financial terms were disclosed. www.shutterfly.com

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