SQS Software Quality Systems AG Share News (SQS)

SQS Software Quality Systems has completed its acquisition of Trissential, a US-based IT project, programme and portfolio management consultancy.The group, which is the world's largest specialist supplier of software quality services, will gain a substantial and stable revenue platform, supporting SQS's strategy of diversifying its geographic revenue split by materially enhancing its operations in the US.Trissential operates across four principal sectors, with a strong alignment to SQS's existing strength in manufacturing, while adding significant expertise in retail, energy and healthcare. The acquisition provides SQS with a "substantial and stable revenue platform" that supports its strategy of diversifying its geographic revenue split by materially enhancing its operations in the US, it said. As previously reported, the $11m consideration will be satisfied through a combination of existing cash, which has already been paid, plus a new credit facility and new SQS shares.