Largest Ever Contract Win (0123T)
November 30 2011 - 2:01AM
UK Regulatory
TIDMSQS
RNS Number : 0123T
SQS Software Quality Systems AG
30 November 2011
30 November 2011
SQS Software Quality Systems AG
("SQS" or the "Company")
Largest Ever 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 that it has
signed a contract worth EUR20 million with a global financial
services client.
SQS has signed its largest ever contract, worth EUR20m over the
next two and a half years. The contract is to provide managed
testing services to a global financial services client. Services
will predominantly be provided onsite during the early stages of
the contract, with an increasing proportion of the work moving to
off-shore or near-shore centres as it matures. As part of the deal,
up to 30 testing specialists currently employed by the client will
be transferring to work under SQS.
Managed services order intake has now exceeded EUR62m in the
year to date, with a number of smaller contracts and contract
extensions having also been signed since the 2011 interim results
were announced in September. Including this new win, managed
services revenues now account for approximately 25% of total
revenues and, as such, SQS remains in line to achieve its strategic
goal of up to 50% of revenues within the next 3 years being derived
through managed services contracts.
Rudolf van Megen, Chief Executive Officer of SQS, said: "We are
delighted to announce this landmark contract win which gives
further evidence of the success of our strategic move into the
provision of managed services. In addition, the contract
demonstrates our ability to compete for, and win, ever larger
contracts, further enhancing the SQS brand and consolidating our
position as the world's leading independent testing services
provider. This contract greatly expands our relationship with the
client and we look forward to working with them more closely in
future."
Enquiries:
SQS Software Quality Systems AG Tel. +49 (2203) 91 54
0
Rudolf van Megen, Chief Executive Officer
Rene Gawron, Chief Financial Officer
Arbuthnot Securities Tel. +44 (0)20 7012 2000
Antonio Bossi
Paul Gillam
Walbrook PR Limited Tel. +44 (0)20 7933 8783
Bob Huxford bob.huxford@walbrookpr.com
Helen Westaway helen.westaway@walbrookpr.com
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 2,000
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, France, 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% of the 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, Daimler, Deutsche Post, Generali,
JP Morgan, Meteor, Reuters, SEB, Siemens and Volkswagen.
This information is provided by RNS
The company news service from the London Stock Exchange
END
CNTVKLFLFFFFFBQ
-1x Square (LSE:SQS)
Historical Stock Chart
From Jul 2024 to Jul 2024
-1x Square (LSE:SQS)
Historical Stock Chart
From Jul 2023 to Jul 2024