SQS Software Quality Systems AG Share News (SQS)

LONDON (Dow Jones)--SQS Software Quality Systems AG (SQS.LN), a supplier of independent software testing and quality management services, said Thursday trading for the first half has been in line with expectations. MAIN FACTS: -During the first half of the year, the company inked a three year blended onshore/offshore managed services contract with a leading global insurance company, valued at EUR6 million in total; A further tranche of onshore/offshore consulting to assist a major U.K. utility with new IT project roll outs worth in excess of EUR2.5 million; An expanded role with a leading gaming companies in Europe to provide managed services for computer games testing. -This new contract, signed for an initial 12 month period, is valued at EUR500,000 and will be carried out by SQS consultants both onshore and offshore. -In project consultancy business new wins since the last trading update include a 12 month project management contract with Europe's largest renewable energy company at a value of EUR400,000 and a 12 month contract with Africa's largest food retail company on testing in a SAP rollout project. -A further project-based contract was signed with an international specialist banking group in security testing on a new payments project. -Shares on Wednesday closed at 183.5 pence, valuing the company at GBP50 million. -By Tapan Panchal, Dow Jones Newswires. Tel +44(0)207-842 9448, tapan.panchal@dowjones.com (END) Dow Jones Newswires July 08, 2010 02:31 ET (06:31 GMT)