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Last checked at 
4 Dec 2014 15:00
4 December 2014
SQS Software Quality Systems AG
("SQS" or the "Company")
Update on SQS India BFSI (formerly, Thinksoft) acquisition
SQS Software Quality Systems AG (AIM:SQS.L), the world's largest supplier of independent software testing, is pleased to announce that it has acquired a further 226,233 shares in the capital of SQS India BFSI Limited ("SQS India", formerly Thinksoft Global Services Limited) for total consideration of INR 137.5m (€1.76m), funded from existing cash resources of SQS. The consideration paid has been calculated by reference to the market price of SQS India's shares. As a result of this additional acquisition, SQS now holds a total of 5,703,801 shares in, representing 54.89 per cent. of, the issued share capital of SQS India.
Enquiries:
SQS Software Quality Systems AG | Tel. +49 (2203) 91 54 0 |
Diederik Vos, Chief Executive Officer | |
Rene Gawron, Chief Financial Officer
| |
Canaccord Genuity - Nomad and Joint Broker | Tel +44 (0) 20 7523 8000 |
Simon Bridges / Peter Stewart / Cameron Duncan | |
Westhouse Securities - Joint Broker | Tel. +44 (0)20 7601 6100 |
Robert Finlay / Antonio Bossi / Paul Gillam
| |
Walbrook PR Limited | Tel. +44 (0)20 7933 8780 |
Bob Huxford Helen Cresswell
| bob.huxford@walbrookpr.com helen.cresswell@walbrookpr.com |
About SQS Software Quality Systems
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 3,900 staff. SQS has offices in Germany, the UK, Australia, Egypt, Finland, France, India, Ireland, Malaysia, the Netherlands, Norway, Austria, Singapore, Sweden, Switzerland, South Africa, the UAE and the US. In addition, SQS maintains a minority stake in a company in Portugal. In 2013, SQS generated revenues of €225.8 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 7,000 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, Beazley, BP, Centrica, Commerzbank, Daimler, Deutsche Post, Generali, JP Morgan, Meteor, Reuters, UBS and Volkswagen as well as other companies from the six key industries on which SQS is focussed.
For more information, see www.sqs.com.
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