SQS Software Quality Systems AG Further re SQS India BFSI (formerly, Thinksoft) (8786Y)

TIDMSQS

RNS Number : 8786Y

SQS Software Quality Systems AG

04 December 2014

4 December 2014

SQS Software Quality Systems AG

("SQS" or the "Company")

Update on SQS India BFSI (formerly, Thinksoft) acquisition

SQS Software Quality Systems AG (AIM:SQS.L), the world's largest supplier of independent software testing, is pleased to announce that it has acquired a further 226,233 shares in the capital of SQS India BFSI Limited ("SQS India", formerly Thinksoft Global Services Limited) for total consideration of INR 137.5m (EUR1.76m), funded from existing cash resources of SQS. The consideration paid has been calculated by reference to the market price of SQS India's shares. As a result of this additional acquisition, SQS now holds a total of 5,703,801 shares in, representing 54.89 per cent. of, the issued share capital of SQS India.

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, offshore automation processes and deep domain knowledge in various industries. Headquartered in Cologne, Germany, the company now employs approximately 3,900 staff. SQS has offices in Germany, the UK, Australia, Egypt, Finland, France, India, Ireland, Malaysia, the Netherlands, Norway, Austria, Singapore, Sweden, Switzerland, South Africa, the UAE and the US. In addition, SQS maintains a minority stake in a company in Portugal. In 2013, SQS generated revenues of EUR225.8 million.

SQS is the first German company to have a primary listing on AIM a market operated by the London Stock Exchange. 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 on which SQS is focussed.

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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