Systems Limited (PSX SYM: SYS), a leading Information technology Company in Pakistan with a global footprint has entered into a definitive agreement to acquire 100% of National Data Consultant (Pvt.) Limited (NdcTech), a leading core and digital banking implementation service provider, along with its subsidiaries/associated companies in UAE and Singapore. NDCTech is an award-winning partner of Temenos empowering leading banks in Pakistan, ME, Africa, and APAC region. This acquisition is conditional on receiving regulatory approvals over the next few weeks.
“NdcTech has become a regional market leader in the core and digital banking solutions with an impressive blue-chip customer base and highly skilled and engaged employees,” said Asif Peer CEO of Systems Limited. “NdcTech has built a successful business, go-to-market strategy and customer portfolio which we will expand and accelerate by bringing our resources to build on the momentum NdcTech has established.”
Asif Peer also stated, “This is the first significant M&A transaction in the IT industry of Pakistan and will herald an even greater growth trajectory for Systems limited.”
Ammara Masood CEO of NdcTech said “We are thrilled to join strengths with Systems Limited, one of the largest and most respected IT companies in Pakistan. NdcTech’s ability to execute large digital transformations in banking, in-depth knowledge of various markets, accelerated methodologies and tools and rich history of 22 years combined with System’s global scale, reach and diverse portfolio will enable us to provide our customers with the best end-to-end services. We look forward to this amalgamation and the value we will be able to provide to our customers and stakeholders”
Post-transaction NdcTech will continue to operate as an independent entity and a subsidiary of Systems Limited with Ammara Masood as its CEO.