SQS Software Quality Systems AG Share News (SQS)

(ShareCast News) - Software providing SQS Software said it has agreed to purchase software testing consultancy Galmont Consulting for up to $22m.The cash and share deal will see SQS pay an initial $3.5m in cash and another $3.5m in shares to the US-based group, with 375,134 SQS shares to be issued at 598p each.The remaining $15m will be paid depending on Galmont's performances over the next five years, with the balance to be split equally between cash and shares."This is SQS's second acquisition in the US and follows the successful integration of US-based management consultancy business Trissential, announced in April," said group chief executive Diederik Vos."The acquisition of Galmont, which has built an outstanding and established reputation, significantly expands our presence in this large and growing market for us."SQS shares were up 0.17% to 575.00p