InterQuest Group plc announce joint venture
InterQuest Group plc announce joint venture Lighthouse Testing Limited
InterQuest is pleased to announce that on 9 July 2009 it signed heads of terms to take a 60% equity stake in Lighthouse Testing Limited.
This represents InterQuest's second venture under its IQ Equity Programme.
Lighthouse is a newly formed IT testing consultancy business based in InterQuest's central London office. The expertise and experience within IT testing of its two leaders, Emma Gray and Scott Summers, alongwith the financial backing, infrastructure and existing client relationships within InterQuest will give Lighthouse an extremely solid foundation to enable it to achieve its aim to become a world class testing consultancy business.
Lighthouse has already won its first piece of consultancy business.
Under the terms of the joint venture, InterQuest will own 60 per cent. of the equity in Lighthouse with the remaining equity owned as to 20 per cent each by the company's two leaders, Emma Gray and Scott Summers.
IQ Equity is the private equity division of InterQuest Group plc which aims to fund individuals or teams looking to start their own IT recruitment related businesses.
Commenting on the JV Gary Ashworth, Chairman of InterQuest said: "We are delighted that Emma and Scott are joining us in Lighthouse and we look forward to building a strong and highly profitable business for the future."
Commenting on the JV, Emma Gray of Lighthouse said: "We are pleased to have joined the InterQuest Group and look forward to working with the Directors of the Interquest Group to build a robust and highly effective testing solutions business that will deliver outstanding results to our clients."