07:33 AM EDT, 08/28/2024 (MT Newswires) -- CGI's (GIB-A.TO) U.S. operating subsidiary, CGI Federal, on Wednesday announced two contract awards from the U.S. Patent and Trademark Office (USPTO). The contracts have a combined potential value of US$119 million.

One of the awarded contracts involves a 5-year Blanket Purchase Agreement worth up to US$84 million. CGI will provide secure financial management services to USPTO through Momentum, its financial management, budget and acquisition software customized for federal agencies.

The second contract, for five years and worth US$36 million will see CGI focus on modernizing systems using cloud technology to support transactions related to certified copies of patent and trademark documents, and transfer of patent and trademark ownership.

CGI was last seen down $0.70 to US$110.51 in U.S. premarket trade.