Montreal-based management and IT consulting firm Conceptum on Thursday announced an agreement with IT service provider GFI Informatique of France. Through the deal, Conceptum hopes to expand its outsourcing services, while GFI’s Canadian operation expects to receive a boost in the electronic payment arena.

Richard Fontaine, Conceptum’s vice-president of operations, told IT World Canada that before the transaction, which was finalized on Oct. 8, Conceptum was involved in six main areas: business process reengineering, integration and implementation of ERP and other software, IT consulting services, electronic payment, custom software development and outsourcing.

“The business Conceptum does in Quebec is the same as what GFI does in France,” Fontaine explained, “but GFI in Canada is not doing this same business. It is more into pure consulting services.”

The deal is basically an “exchange of shares,” said Fontaine — GFI Canada will become one of Conceptum’s shareholders, while Conceptum will remain under the control of holding company Groupe Magrit Inc., which will become a major shareholder of GFI Canada.

The transaction will lead Conceptum to pool the efforts of more than 50 of its consultants, as well its electronic payment and business solution integration assets, with GFI Canada’s consulting operations, Fontaine said.

In a statement, Jacques Tordjman, president and CEO of the Group GFI Informatique, said, “The acquisition of these assets fits in with our growth strategy and is based on our one-stop-shop approach. It will greatly reinforce our current presence in Canada.”