Lahore, Pakistan: Coeus Solutions today announced setting up a dedicated Software Testing Business Unit. To set this up, Coeus also announced an investment of Rs. 100 million over next 3 years into the business unit. The investment will be used to set up people operations, including Software Test Engineers, Sales, and Partnerships.
“Over the last 5 years, we have had a lot of requests from our German as well as international customers on penetration testing, security testing and other software testing services and until now we have been outsourcing this”, Ahsan Naseem, CEO of Coeus Solutions Ltd said, “Moving into 2022, we decided to setup our own dedicated Software Testing Business Unit as our team already consists of many well respected industry veterans.”
Software Testing exceeded USD 40 Billion in 2020 and is expected to grow at 7% CAGR until 2027. This is also expedited by the increased focus on privacy initiatives, ensuring proper privacy by design guidelines, as well as the proper following of GDPR rules. Other than this, the security testing market, in particular, is growing by over 25% CAGR in the next seven years.
“Having an in-house Software Testing Business Unit makes sense also from both our M&A strategy as well as focus on remote work platform, WorkHub.ai. We believe moving forward, all companies will require dedicated third party testing audits.” Ahsan Naseem added. “The business unit is meant to serve not only our internal customers, but also will be offered as a full fledged service to over 800 of our customers and partners”.
Coeus Solutions, with their consultants KASB Securities, is on track to list on Karachi Stock Exchange in Q1 2022. This is scheduled to be the first tech listing on the GEM board and has already generated a lot of interest from local and international investors.