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SQS sets sights on £20m

Aug 31 2005

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CEO Rudolf van Megen
SQS, an independent provider of software testing and quality management services, is coming to AIM with the help of broker Evolution and will become the first German technology venture to list on the market.

The company is looking to raise between £10-£20 million prior to flotation, with Evolution’s help. This should afford it a market value of between £40-£45 million.

Fronted by CEO Rudolf van Megen, SQS’s growth has dramatically outstripped the rate of the European IT services market over the last 18 months, and its client roster includes top names including Dresdner Bank, Vodafone and Alcatel.

Last year to December, SQS made €2.7 million on a turnover of €48.7 million, figures forecast to grow to €3.9 million on sales of €53.8 million this year.

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