SQS agrees £281m takeover bid from Assystem Technologies

Software Quality Systems (SQS) has recommended to shareholders an offer made by Assystem Technologies (Bidco) for the entire issued and to be issued share capital of SQS.

Bidco is a newly incorporated German company acquired by Assystem Technologies for the purpose of making and implementing the offer.  

SQS shareholders who accept the offer will be entitled to receive 825p in cash for each SQS share.

The offer values the entire issued and to be issued share capital of SQS at approximately £281.3m.

Commenting on the offer, Olivier Aldrin, CEO of Assystem Technologies said: "The enlarged business will combine SQS's expertise in quality assurance and process consulting in the digital world, with Assystem Technologies' breadth of engineering product design capabilities.”

He added: “We believe that the potential revenue synergies available from combining SQS with Assystem Technologies, as well as some limited integration benefits, are fairly reflected in the significant cash premium which the offer represents."