EDS to Acquire RelQ Software Private Limited
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Acquisition to accelerate EDS' existing global software testing, validation and verification services for enterprise clients
Integrating RelQ's vast experience in high quality testing into EDS' existing user compliance and acceptance testing capabilities
PLANO, Texas, March 12 / -- EDS today announced it has reached a definitive agreement to acquire RelQ Software Private Ltd., a privately owned Bangalore, India-based software testing company. Over time, RelQ will be fully integrated into EDS' global testing organization and will accelerate EDS' global testing capabilities by offering low cost, high quality applications testing, validation and verification, and quality assurance services.
All of RelQ's more than 700 employees in India, the United Kingdom, the United States and France are expected to become a valuable part of EDS' global testing organization. Financial terms of the transaction were not disclosed. The transaction is expected to close in May 2007.
RelQ is a certified ISO 9001-2000 software testing company-serving clients primarily in the banking, financial services, telecom and consumer electronics industries. RelQ offers real-time and embedded applications testing, including mission critical software testing, for clients looking to deploy applications across the enterprise. The company has also obtained British security certification standards (BS7799).
"Today's clients are working in a 'self service, always-on world' where their customer-facing business applications must operate with zero outages," said Charlie Feld, senior executive vice president, Applications Services, EDS. "Having the ability to test and validate such critical applications is vital to helping clients succeed in today's economy. This acquisition will help EDS expand our customer base by accelerating and uplifting our software testing capabilities, thereby giving us a significant competitive advantage in the deployment of enterprise applications platforms and services for our clients. It fits with EDS' 'zero defect' approach to applications development and deployment and complements existing on-site and off shore capabilities."
"Software has taken a mission critical role in a large number of business processes, and software testing can play a significant role in identifying and preventing software failures which could jeopardize the goals of a specific IT project," said Dr. Prakash Mutalik, president and CEO, RelQ. "We are pleased that EDS is acquiring the capabilities and expertise of RelQ and its employees to better serve the needs of our combined client base."
RelQ provides a full range of validation and verification service offerings. Key elements of the acquisition would include all of RelQ's service offerings in the areas of strategic test consulting, functional testing, near- release testing, test automation, post-release testing and extreme testing.
RelQ retained UBS Investment Bank as its exclusive financial advisor on the transaction.
About EDS
EDS (NYSE:EDS) is a leading global technology services company delivering business solutions to its clients. EDS founded the information technology outsourcing industry more than 40 years ago. Today, EDS delivers a broad portfolio of information technology and business process outsourcing services to clients in the manufacturing, financial services, healthcare, communications, energy, transportation, and consumer and retail industries and to governments around the world. Learn more at eds.com.
FCMN Contact: travis.jacobsen@eds.com
Source: EDS
CONTACT:Travis Jacobsen, Media Relations, +1-972-797-8751, travis.jacobsen@eds.com, or Lori Happe, Investor Relations, +1-972-605-8933, lori.happe@eds.com, both of EDS
Web site: http://www.eds.com/
