| Announcing this expansion, Prakash Mutalik, co-founder and president, RelQ said: "Companies increasingly appreciate the total cost of quality for launching new products and the value that an independent testing specialist like RelQ can add to the product's credibility." |
| "Over the past five years our compounded annual growth has been in the range of 35 per cent and we expect to maintain similar momentum in the future and target to touch a topline of $50 million in two years time." |
| RelQ is looking forward to build this momentum due to the fact that the worldwide testing market is estimated at around $14-15 billion and the global outsourcing testing market opportunity for 2006 has been pegged at $5.5 billion, of which, nearly $4 billion will be offshored to cost effective destinations. |
| Because of the established and dominant IT service sector, presence of organisations with matured processes and practices, and the versatile IT skill-sets of testing professionals, India has the potential to capture 50 per cent ($2 billion) of this outsourced testing market. |
| The compounded annual growth rate for the independent outsourced testing market is estimated to be over 60 per cent. |
| Commenting further on the expansion, Mutalik said: "Our future growth is expected to come from strong demand from our existing clients and those we have added recently. |
| To help this growth, RelQ is preparing to further sharpen its skills in Test technology/tools in Enterprise, Embedded software domains. Last two years have seen tremendous demand for RelQ?s Test Automation services. We plan to build a Test Automation Lab with requisite expertise and tools." |
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