Thomson Financial has agreed to acquire the information services division of the banking and investment Group of CGI Group Inc., including the Starquote software.

The transaction is expected to close later in the second quarter. Financial terms of the transaction were not disclosed.

Starquote serves the majority of the Canadian market in the retail equities sector with terminals in 70% of the Investment Dealers Association registered firms. It provides a full overview of the North American financial markets with news, information and real-time quotes on a single screen.

Starquote was among the assets of the Star Data company, which CGI acquired in 2001.

Following the completion of the transaction, Thomson Financial will integrate the Starquote product into its retail and wealth management group to enhance the offerings available to the Canadian market. Thomson says it will continue to offer the current Starquote products.

Thomson Financial says it expects that the Starquote management team and employees will remain in support of current clients and broaden Thomson Financial’s Canadian presence.

“Starquote has an exceptional reputation in the industry and it will enrich our offering. This acquisition is in line with Thomson Financial’s strategic focus on continuously expanding our global reach and will further develop our presence in the Canadian equities marketplace,” said Sharon Rowlands, president and chief operating officer of Thomson Financial, in a news release.