Contract wins for Managed Services Division
December 08 2010 - 2:00AM
UK Regulatory
TIDMSQS
RNS Number : 5407X
SQS Software Quality Systems AG
08 December 2010
8 December 2010
SQS Software Quality Systems AG
("SQS" or the "Company")
Managed Services contract wins
SQS Software Quality Systems AG (AIM: SQS.L), the world's largest pure play
supplier of independent software testing and quality management services, today
announces a number of contract wins and contract extensions for its Managed
Services division.
The Company has recently won three new Managed Services contracts and extended
three existing ones, such that order intake for the Managed Services division
has exceeded EUR50 million in the year to date. A Managed Services contract can be
expected to provide improved visibility of earnings and enhanced margins,
compared to a traditional project, over the entire lifecycle of the engagement,
although it may involve lower margins in the initial phases as the majority of
work is carried out by onshore consultants during this time.
Specsavers has selected SQS to deliver a three year Managed Testing Services
contract, providing a 50 strong SQS testing team. Based mainly in India the team
will deliver end-to-end testing of business applications, from performance
through to automated regression test suites, with a focus on raising quality,
reducing risk and increasing the throughput of change.
Against considerable competition, SQS has also won a three year Managed Services
contract worth EUR6.5 million with a European telecommunications provider. This is
a blended onshore/offshore contract with execution shared between teams in
Europe and India.
In addition, SQS has signed a contract with a German logistics company to
provide a pilot Managed Testing Services programme.
In terms of contract extensions, a global insurance company has extended its
existing Managed Services contract by an additional value of EUR2 million. The
extension came about as the result of a TUPE-type transfer to SQS of the
client's former in-house testing team. This team will be complemented with
services provided by SQS's offshore test centre in Cairo.
Furthermore, two clients in financial services have extended their now completed
pilot contracts into longer term managed services engagements, where SQS will
provide testing services for core banking software applications. The combined
value of these extensions is EUR2.3 million.
Rudolf van Megen, Chief Executive Officer of SQS commented, "These contract wins
and extensions firmly establish SQS as a leader in the provision of blended
onshore/offshore independent managed testing services delivered by a pure play
testing supplier. Having only launched our Managed Services division a year ago,
we are witnessing considerable demand for its offerings from a wide variety of
markets. We are therefore delighted with the performance of the division to date
and we are encouraged by a continuing strong pipeline."
The Company is planning to provide an update on trading for the year to 31
December 2010 in January 2011.
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 | |
+---------------------------------------+------------------------+
| | |
+---------------------------------------+------------------------+
| Walbrook PR Limited | Tel. +44 (0)20 7933 |
| | 8783 |
+---------------------------------------+------------------------+
| Bob Huxford | |
+---------------------------------------+------------------------+
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 1,800 employees across
Europe, Asia, North America and Africa. The Group has a presence in Germany
(Cologne, Munich, Frankfurt, Stuttgart, Goerlitz and Hamburg), 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 35 FTSE-100 companies, more than half of the DAX 30 and 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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