Yesterday, CGI Group acquired Logica for $2.6 billion. The massive move, combined with RIM's continually declining stock price, means that CGI has has officially surpassed RIM to become Canada's most valuable technology company—a title the Waterloo-based BlackBerry maker had held onto easily for several years.
CGI was worth only $3 billion in 2008, back when RIM traded for $140. But since then, RIM has lost more than 90% of its value, while CGI has doubled its value in the same time.
CGI is now worth $6.2 billion, while RIM is worth just $5.6 billion.