Home > Financial > BARCLAYS PRIVATE EQUITY BACKS MBO OF IMAGOQA

BARCLAYS PRIVATE EQUITY BACKS MBO OF IMAGOQA

Added: (Wed Nov 29 2000)

Pressbox (Press Release) - Press Information

29th November 2000

BARCLAYS PRIVATE EQUITY BACKS MBO OF IMAGOQA

Barclays Private Equity has backed the 10m management buy-out of ImagoQA,
the UK's leading specialist provider of software testing services. The deal
involved Barclays Private Equity taking a majority stake, while the
management team increased their shareholding and an option scheme was
established for employees.

ImagoQA enables its clients to introduce new software with confidence by
conducting comprehensive testing throughout the development and
implementation process. ImagoQA currently has 130 consultants working with
blue chip clients in the financial, telecoms and retail sectors, including a
number of bulge bracket investment banks.

Recent projects include Web site testing for the Financial Times, testing
general banking applications for Northern Rock and the testing of call
centre systems for Experian.

Founded in 1985, ImagoQA has grown to become the leading specialist software
testing business in the UK with turnover expected to reach 13m this year.

Dominic Geer of Barclays Private Equity commented: "The software testing
market is growing at 40 per cent per annum, four times the rate of the
general IT services market. We will see a significant amount of corporate
activity in this sector over the next few years".

Keith Trotter, Managing Director of ImagoQA said "We are delighted to have
Barclays Private Equity on board as investors. The MBO will allow us to
consolidate our leadership of the fast growing specialist software testing
services market and will enable us to provide great opportunities for our
employees."

Dominic Geer and Rob Myers, who focus on the IT Services sector, led the
investment for Barclays Private Equity.

-Ends-

Notes to Editors.
Barclays Private Equity is a division of Barclays Capital, the
investment-banking division of the Barclays Group. With more than 300
transactions to its name, typically ranging from 25m to 250m, Barclays
Private Equity is one of the leading private equity providers in the UK and
across Europe.

About ImagoQA
Founded in 1985, ImagoQA is both the longest established and the largest
independent software testing consultancy in the UK. The company pioneered
the use of Test Management tools and is the recognised leader in the
development of advanced testing and quality assurance strategies for high
value software applications - particularly in the Financial, IT Services,
Utilities and Government sectors.

In 1999 ImagoQA achieved a record growth of 193 percent and was ranked 21st
in the Deloitte & Touche Technology Fast 50 Programme (for which ImagoQA has
been nominated again this year). This rapid expansion has continued in 2000
with greater client interest in testing Internet sites and e-Business
applications. With 15 years' experience and 130 specialist directly employed
consultants, ImagoQA is well placed to ride the new e-Business wave.
Although fiercely independent, the company has collaboration agreements with
the leading testing tool vendors and with other consultancy firms in Europe
and the USA. ImagoQA has achieved ISO 9002, 9001 and TickIT Certification.

For Further Information:
Paul Meader
ImagoQA Limited
High Holborn House
52/54 High Holborn
London
WC1V 6RL, UK
Tel: +44 20 7242 5100
Fax: +44 20 7421 8100
E-mail: enquiry@imagoqa.com
Website: www.imagoqa.com

Press Enquiries and Photos:
Tony Bovill
Consort PR Consultants Ltd.
Berrybridge House
Devenish Road
Sunningdale
Berkshire
SL5 9SH, UK
Tel: +44 1344 626171
Fax: +44 1344 626612
E-mail: tony@consortpr.co.uk
Website: www.consortpr.co.uk
(Where this release is also available)

Submitted by:
Disclaimer: Pressbox disclaims any inaccuracies in the content contained in these releases. If you would like a release removed please send an email to remove@pressbox.co.uk together with the url of the release.