Major Managed Services Contract Win
July 30 2010 - 2:00AM
UK Regulatory
TIDMSQS
RNS Number : 1900Q
SQS Software Quality Systems AG
30 July 2010
30 July 2010
SQS Software Quality Systems AG
("SQS" or "the Company")
Major Managed Services Contract Win
SQS Software Quality Systems AG (AIM: SQS.L), the world's largest pure play
supplier of independent software testing and quality management services, is
pleased to announce a major new Managed Services contract win and to provide an
update on progress for its Managed Services offering.
SQS has signed a significant new Managed Services contract with an existing
client, estimated to be worth at least EUR15 million over a period of three and
half years. This is the biggest single client contract ever signed by SQS. Under
the terms of the contract, SQS will provide a comprehensive set of services
including test management, design, execution and evaluation of test cases and
test documentation. In addition to local onshore consultants, SQS will engage,
to a significant degree, its offshore Test Centre in Cairo, Egypt. The contract
is not expected to make a significant contribution to revenue in the current
year.
Total order intake for Managed Services (including the above contract) in the
year to date stands at approximately EUR40 million, compared to the EUR15 million
reported at the time of the Company's AGM on 26 May 2010. Of this, the Company
expects approximately EUR9 million will be recognised in the current financial
year.
Rudolf van Megen, Chief Executive Officer of SQS commented, "We are very pleased
that SQS has been chosen as a strategic partner for the provision of Managed
Software Testing services by another existing client. The winning of this major
Managed Services contract is a clear endorsement of our strategic decision to
focus on managed testing services and increase the level of this type of
business as a proportion of overall revenues. We look forward to continued
success in this area."
SQS will be announcing results for the six months to 30 June 2010 on 8
September 2010.
Enquiries:
+------------------------------------------+--------------------------+
| SQS Software Quality Systems AG | Tel. +49 (2203) 91 54 0 |
+------------------------------------------+--------------------------+
| Rudolf van Megen, Chief Executive | |
| Officer | |
+------------------------------------------+--------------------------+
| Rene Gawron, Chief Financial Officer | |
+------------------------------------------+--------------------------+
| | |
+------------------------------------------+--------------------------+
| Altium | Tel. +44 (0)20 7484 4040 |
+------------------------------------------+--------------------------+
| Tim Richardson | |
+------------------------------------------+--------------------------+
| Katie Hobbs | |
+------------------------------------------+--------------------------+
| | |
+------------------------------------------+--------------------------+
| Threadneedle Communications | Tel. +44 (0)20 7653 9850 |
+------------------------------------------+--------------------------+
| Tom Moriarty | |
+------------------------------------------+--------------------------+
| Caroline Evans-Jones | |
+------------------------------------------+--------------------------+
| Hilary Millar | |
+------------------------------------------+--------------------------+
About SQS
SQS is the world's largest pure play supplier of independent software testing
and quality management services. SQS consultants design and oversee quality
management processes during the software and IT systems life cycle and test the
resulting products for errors and omissions.
Headquartered in Cologne, Germany, SQS has approximately 1,700 employees across
Europe, Asia, North America and Africa. The Group has a strong presence in
Germany (Cologne, Munich, Frankfurt, Stuttgart, Goerlitz and Hamburg) and in the
UK (London, Woking, Birmingham, Manchester, Belfast), Ireland, the Netherlands,
Switzerland, Austria, Sweden, Norway, Finland, India, Egypt, the United States
and South Africa. SQS also has a minor stake in an operation in Portugal and a
partnership operation in Spain.
With more than 5,000 completed projects, SQS has a strong customer base
including 20 FTSE-100 companies, half of the DAX 30 and nearly a third of the
STOXX-50. It supports clients in a wide range of industries, including major
corporations such as Allianz, Beazley, BP, Centrica, Commerzbank, Daimler,
Deutsche Post, Generali, JP Morgan, Meteor, Reuters and Volkswagen.
www.sqs-group.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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