CGI, best known in the UK for buying tech giant Logica for GBP1.7bn in 2012, has offered 254.15p in cash for each Scisys share, which is a 25% premium to their closing price from a day earlier and a 47% premium to the average over the past 12 months.
Scisys shareholders will also still be entitled to receive the 2018 final dividend of 1.73p per share, which will be paid on 26 July.
Quebec-based CGI plans to complete the deal by means of a scheme of arrangement, which will be conditional on shareholder approval.
The Scisys board unanimously recommended the deal to shareholders and have irrevocably pledged to put their combined 25% stake behind the vote.
Chairman Mike Love said the board viewed the deal “as a wholesale endorsement of the success Scisys has achieved to date”.