Contract Extensions and New Wins (7120B)
April 20 2012 - 2:00AM
UK Regulatory
TIDMSQS
RNS Number : 7120B
SQS Software Quality Systems AG
20 April 2012
SQS Software Quality Systems AG
("SQS" or the "Company")
Contract Extensions and New Wins
SQS Software Quality Systems AG (AIM: SQS.L), the world's
largest pure play supplier of independent software testing and
quality management services, provides an update on contract
extensions and new wins during the first quarter of 2012.
Strategy
The major focus of the first quarter of 2012 has been to
increase the value of agreements with existing clients and reduce
the number of lower margin assignments. The results of this
strategy are already being recognised, with the extension of our
full range of services to two of our largest and longest standing
clients within the automotive and insurance sectors.
These two clients now rely on SQS for their complete software
development cycle from business analysis to final software testing
and distribution of the application. Moreover, both these contract
expansions were achieved despite significant competition from
global system integrators, which we believe clearly demonstrates
the compelling value proposition of our deep business domain
knowledge.
Managed Services
We have also successfully extended our managed services
contracts with two existing clients within the banking sector and
signed a new managed services contract with one of the largest
providers of internet and retail banking based in Germany.
Consulting Services
During the period, we also secured new contracts with two
Central European insurance companies and a global asset management
company for the development of a project management suite to be
developed in the popular Agile software development
environment.
Within the UK and Ireland, the Company has continued to gain
market share in the financial services and private banking sectors
and successfully pushed further into the relatively new sector of
Manufacturing. The size of these contracts varies from EUR100,000
to EUR200,000 for execution within this year.
In aggregate, the financial impact of these new and expanded
engagements has secured revenue in excess of EUR10m over the next
two years.
Rudolf van Megen, CEO of SQS, commented: "The beginning of 2012
has seen a strong start to the current financial year due to the
successful execution of the strategy outlined at the time of our
full year results. In particular, the focus on expanding the value
of engagements with current clients has proven positive and we
continue to win new clients within our traditional sectors and some
emerging ones.
"We continue to seek to increase the proportion of overall
revenues derived from our Managed Services business and have
successfully extended contracts with existing and new clients in
the first quarter of 2012."
Enquiries:
SQS Software Quality Systems Tel. +49 (2203) 91 54 0
AG
Rudolf van Megen, Chief Executive
Officer
Rene Gawron, Chief Financial
Officer
Westhouse Securities Tel. +44 (0)20 601 6100
Antonio Bossi
Paul Gillam
Tel. +44 (0)20 7933 8780
Walbrook PR Limited
Paul Cornelius 07827 879 460/ paul.cornelius@walbrookir.com
Helen Westaway 07841 8917 679/ 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 2,100
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
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