SQS Software Quality Systems AG Business Update (6805G)
November 24 2015 - 2:00AM
UK Regulatory
TIDMSQS
RNS Number : 6805G
SQS Software Quality Systems AG
24 November 2015
SQS Software Quality Systems AG
("SQS" or the "Company")
Business Update
Software Quality Systems AG (AIM: SQS.L), the world's largest
specialist supplier of software quality services, announces an
update on new business wins and on its most recent acquisitions in
the US and Italy.
Global Expansion
The acquisitions of Bitmedia (now SQS Italy), Trissential LLC
("Trissential") and Galmont Consulting LLC ("Galmont") completed in
February, June and September 2015 respectively have now all been
successfully integrated into the Company and complete a major
strategic expansion across all the Company's target markets for
this year.
The acquisitions of Galmont and Trissential have significantly
enhanced the Company's revenue and delivery footprint in the US.
Trissential approximately quadrupled the Company's onsite delivery
in the US. Following the highly complementary acquisition of
Galmont, the Company is now well placed to reach its stated target
of $100m of annualised revenue in the US without any further
acquisitions.
New Business
The new client wins in the US include the first engagement with
a major US healthcare and pharmaceutical company, a two year MS
deal with a major computer software re-seller, a long-term software
testing engagement with a large financial services company, a
global delivery engagement for the energy division of one of the
world's largest industrial conglomerates and added offshore
delivery to its leading US hospitality chain client.
In Europe, the Company engaged with an electronics client
working in the defence sector on a long-term engagement and won
another "Internet of Things" ("IoT") engagement with a leading
lighting supplier to test its innovative IoT solutions. The Company
also started a new global delivery engagement with a leading retail
bank operating across the Spanish speaking world.
Current Trading
Organic revenue growth and contributions from Bitmedia,
Trissential and Galmont have resulted in Managed Services and
Specialist Consulting revenues, particularly in the US, increasing
significantly during the period. Central European revenues from the
automotive and manufacturing sector remain stable and in-line with
estimates.
Diederik Vos, Chief Executive Officer of SQS, commented: "We
have continued to build on the momentum achieved in the first half
of the current financial year and successfully addressed the margin
pressures through targeted customer acquisition and continued cost
control.
"All the acquisitions completed during the year have now been
fully integrated into the Company with cost synergies and customer
retention rates all in-line with our expectations. We therefore
believe SQS is now positioned to take advantage of global
opportunities across our major target markets and industry
verticals as software becomes increasing complex and intrinsic to
our daily lives."
Enquiries:
SQS Software Quality Systems AG Tel. +49 (0) 2203
91 54 0
Diederik Vos, Chief Executive
Officer
Rene Gawron, Chief Financial Officer
Numis Securities - Nomad and Joint Tel +44 (0) 20
Broker 7260 1000
Simon Willis / Jamie Lillywhite
/ Mark Lander
Westhouse Securities - Joint Broker Tel. +44 (0) 20
7601 6100
Robert Finlay / Antonio Bossi
Walbrook PR - Financial Media Tel. +44 (0)20
and Investor Relations 7933 8780
Paul Cornelius / Sam Allen / Nick sqs@walbrookpr.com
Rome
About SQS
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 4,600 staff. SQS has
offices in Germany, UK, US, Australia, Austria, Egypt, Finland,
France, India, Ireland, Italy, Malaysia, the Netherlands, Norway,
Singapore, South Africa, Sweden, Switzerland and UAE. In addition,
SQS maintains a minority stake in a company in Portugal. In 2014,
SQS has generated revenues of EUR268.5 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 8,000 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, BP, Commerzbank, Daimler, Deutsche
Post, Generali, Meteor, UBS and Volkswagen as well as other
companies from the six key industries on which SQS is focused.
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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