SQS Software Quality Systems AG Regulatory News (SQS)

30 Nov 2009 07:00

30 November 2009

SQS Software Quality Systems AG

("SQS")

SQS Contract Wins

SQS Software Quality Systems AG (AIM:SQS.L), the world's largest supplier of independent software testing and quality management services, is pleased to announce a number of new blended onshore/offshore managed services contracts with UK customers as well as its first contract with a non-gaming customer in the US.

SQS has signed a six month blended onshore/offshore contract with a major UK health insurance company. The contract is part managed services in structure, such that a proportion of the revenue from the project will be based on pre-agreed deliverables as opposed to being wholly based on test engineer day rates. This is an expansion of SQS' work for an existing strategic client. 

In addition, SQS has recently expanded its relationship with a major banking client through substantial growth of what was previously a purely onshore services contract into a mixed onshore and offshore services contract. The new onshore/offshore contract is a 2 year agreement through which SQS will supply testing consultants to the bank to meet various programme requirements. 

SQS has also won a blended onshore/offshore contract to provide over 1,000 days of software testing to one of the UK's leading gaming companies. SQS will be utilising consultants from the UK, India and South Africa to provide test management and a range of other testing services to ensure the quality and functionality of the client's new games, website and core betting system. This contract covers an initial project phase with the potential for additional phases to follow on in the future.

Furthermore, SQS has been contracted to fulfil a number of testing roles on a key new project for one of the world's leading messaging and web security companies. The project will deliver new security functionality for all of the client's customers and SQS will be providing a blend of onshore and offshore testing services for 12 months. Additional phases of the project could also see SQS' role extend into 2011.

In addition, SQS has signed a one year, fully offshore contract with a regulatory authority based in Boston, USA. This contract is highly significant in that it is SQS' first win with a US client to involve the provision of services other than the testing of computer games. The client is a large company and SQS is confident this initial contract will lead to further opportunities. 

Rudolf van Megen, Chief Executive Officer of SQS commented, "I am extremely pleased to announce these UK contract wins, which demonstrate the attractiveness of our off-shore resources and our newly implemented managed services revenue model. In line with our stated strategy we are aiming to secure a greater number of managed services contracts in order to improve our visibility and give us greater control over the projects on which we work. With capital expenditure now starting to be released once more, these contract wins also highlight the confidence that is returning to our end markets, particularly in the UK. 

"In addition, I am delighted to announce our new contract win in the US which will serve as a powerful reference client to help us win additional sales within this significant geography." 

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About SQS

SQS is the world's largest supplier in independent software testing and quality management services. SQS consultants design and oversee quality management processes during software and IT systems development and test the resulting products for errors and omissions.

Headquartered in Cologne, Germany, SQS has approximately 1,400 employees across Europe, Asia, North America and Africa. The Group has a strong presence in Germany (Cologne, Munich, Frankfurt, Stuttgart, Goerlitz and Hamburg) and in the UK (London, Woking, Birmingham, Manchester, Belfast), Ireland, the Netherlands, Switzerland, Austria, Sweden, Norway, Finland, India, Egypt, the United States and South Africa. SQS also has a minor stake in an operation in Portugal and a partnership operation in Spain.

With more than 5,000 completed projects, SQS has a strong customer base including 36 FTSE-100 companies, half of the DAX 30 and nearly a third of the STOXX-50. It supports clients in a wide range of industries, including major corporations such as Deutsche Bank, Deutsche Telekom, Deutsche Post, Allianz, Meteor, BP, JP Morgan, UBS, Beazley, Volkswagen, and Daimler.

www.sqs-group.com