SQS Software Quality Systems AG Regulatory News (SQS)

5 Nov 2008 07:00

5 November 2008

SQS Software Quality Systems AG

("SQS" or the "Company")

SQS Contract Wins

SQS Software Quality Systems AG (AIM:SQS.L), the global leader in independent software testing and quality management services, is pleased to announce significant new contract wins with a tier one investment bank; the UK operations of a global car manufacturer; a multinational supplier of precision bearings headquartered in the Nordic countries; and an eGovernment project in India. 

SQS has signed a one-year, blended onshore/offshore managed services contract with a tier one global investment bank to manage and coordinate the testing for a major platform upgrade and systems change. SQS is working with senior management at the bank to ensure the programme delivers high quality systems within a given time frame and that risks are mitigated wherever possible. The programme will involve multiple phases and implementations are expected to run into 2010 and 2011.This contract emphasises the importance of SQS's off-shoring capabilities in attracting new clients. It demonstrates that, despite the current difficulties within the investment banking industry, new projects are still being funded and these need to be managed efficiently and tested thoroughly in order to minimise potential costs.

SQS has also won a significant contract to provide testing and quality management services to the UK operations of a global car manufacturer. SQS has had considerable success in securing contract wins within the automotive industry in recent times and this provides further evidence of the Company's strength within the sector.

Furthermore, SQS has secured a contract to provide testing services to a leading industrial group in the Nordic countries. The new client is one of the leading global suppliers of products, solutions and services in market segments such as rolling bearings, seals and lubrication systems. Secured through SQS's recently acquired Nordic operations, the contract is an endorsement of the rationale for the acquisition and underlines how, as part of SQS, the Company's enlarged scale and reach is enabling it to secure ever larger contracts in the region.

In addition, SQS has been contracted until July 2010 to provide consultancy services and training on software testing, quality and security for the Project on Economic Development through eGovernance in India. The project is being funded by the German Ministry for Economic Development (BMZ) and is supported by the Indian Government's Ministry for Communication and Information Technology (MCIT). The contract demonstrates how the recent acquisition in India has enabled SQS not only to improve and expand its offshoring facilities but increasingly to engage with the Indian market, both in the commercial and public sectors. 

Rudolf van Megen, Chief Executive Officer of SQS commented, "I am delighted to announce these significant contract wins, the variety of which illustrate the sector independence of our offerings and the healthy mix of industries in which SQS operates. This is in line with our strategic policy of broadening the diversity of markets into which we sell and we are confident of further success with this strategy going forward." 

Enquiries:

About SQS

SQS is the global leader 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 now has more than 1,400 employees across Europe, Asia, North America and in 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 4,800 completed projects under its belt, 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, Barclays, BP, Boots, Credit Suisse, Volkswagen, and Daimler.

www.sqs-group.com