SQS Software Quality Systems AG Update on Thinksoft Acquisition (5903W)
December 31 2013 - 2:00AM
UK Regulatory
TIDMSQS
RNS Number : 5903W
SQS Software Quality Systems AG
31 December 2013
31 December 2013
SQS Software Quality Systems AG
("SQS" or the "Company")
Update on Thinksoft Acquisition
Further to the trading update published on 18 December 2013, SQS
is pleased to announce that first closing of the acquisition of
Thinksoft Global Services Limited ("Thinksoft") has now occurred
and, consequently, SQS has acquired 26% of the currently issued
share capital of Thinksoft. In addition, SQS has applied to replace
the founders of Thinksoft as "Promoters" (as that term is
understood under Indian securities regulations) of Thinksoft. The
tender offer for the remaining Thinksoft shares to be acquired will
commence in early January 2014 and the tender period will last 10
business days. The acquisition of shares in Thinksoft is on plan to
complete in February 2014.
Enquiries:
SQS Software Quality Systems AG Tel. +49 (2203) 91 54 0
Diederik Vos, Chief Executive Officer
Rene Gawron, Chief Financial Officer
Canaccord Genuity - Nomad and Joint Tel +44 (0) 20 7523 8000
Broker
Simon Bridges / Peter Stewart / Cameron
Duncan
Westhouse Securities - Joint Broker Tel. +44 (0)20 7601 6100
Robert Finlay / Antonio Bossi / Paul
Gillam
Walbrook PR Limited Tel. +44 (0)20 7933 8780
Bob Huxford bob.huxford@walbrookpr.com
Helen Cresswell helen.cresswell@walbrookpr.com
About SQS Software Quality Systems
SQS is the world's leading specialist in software quality. This
position stems from over 30 years of successful consultancy
operations. SQS consultants provide solutions for all aspects of
quality throughout the whole software product lifecycle driven by a
standardised methodology, high offshore automation processes and
deep domain knowledge in various industries. Headquartered in
Cologne, Germany, the company employs approximately 2,800 staff.
SQS has offices in Germany, the UK, Egypt, Finland, France, India,
Ireland, the Netherlands, Norway, Austria, Sweden, Switzerland,
South Africa and the US. In addition, SQS maintains a minority
stake in a company in Portugal. In 2012, SQS generated revenues of
210.1 million Euros.
SQS is the first German company to have a primary listing on the
AIM (Alternative Investment Market) in London. In addition, SQS
shares are also traded on the German Stock Exchange in Frankfurt am
Main.
With over 7,000 completed projects under its belt, SQS has a
strong client base, including half of the DAX 30, nearly a third of
the STOXX 50 and 20 per cent of the FTSE 100 companies. These
include, among others, Allianz, Beazley, BP, Centrica, Commerzbank,
Daimler, Deutsche Post, Generali, JP Morgan, Meteor, Reuters, UBS
and Volkswagen as well as other companies from the six key
industries of SQS.
For more information, see www.sqs.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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