SQS Software Quality Systems AG Share News (SQS)

SQS Software Systems, a German-based provider of software testing and quality management services, has signed a contract worth €20m over the next two and a half years with a global financial services client. The contract is to provide managed testing services which will predominantly be provided onsite during the early stages of the contract, with an increasing proportion of the work moving to off-shore or near-shore centres as it matures. As part of the deal, up to 30 testing specialists currently employed by the client will be transferring to work under SQS. Chief executive Rudolf van Megen said: "The contract demonstrates our ability to compete for, and win, ever larger contracts, further enhancing the SQS brand and consolidating our position as the world's leading independent testing services provider."Managed services order intake at the firm has now exceeded €62m in the year to date. SQS remains in line to achieve its strategic goal of up to 50% of revenues within the next 3 years being derived through managed services contracts, the company said. The share price rose 5.67% to 158.5p by 12:25. NR