System Ltd to acquire 100% stake in National Data Consultant

Systems Limited has entered into a term sheet with the sponsor shareholders of National Data Consultant (Pvt.) Limited (“NdcTech”) for the acquisition of 100% of the issued and paid-up share capital of NdcTech, subject to compliance with the applicable laws, including, obtaining the necessary corporate and regulatory approvals (the “Transaction”).

The management of both parties will now start discussions to finalise terms for the acquisition, the share purchase agreement and other Transaction related documents and upon finalization, terms and conditions shall be presented to the Board of Directors for their final consideration and approval.

NdcTech has been a leading core and digital banking implementation service provider for the past 22 years and has a rich set of clients in Pakistan, Middle East, Africa and Asia Pacific region.

NdcTech is a regional partner of Temenos, which has over 3,000 financial institutions across the globe, including 41 of the world’s top 50 banks. Temenos is recognized by renowned firms such as Gartner, Forrester, IBS Intelligence, Everest Group and Fintech Futures as a Leader in their respective quadrants.

spot_img

More like this

KSE 100 Skyrockets to Historic 78k Milestone!

The Pakistan Stock Exchange (PSX) experienced a buying frenzy as the benchmark KSE-100 index surged by over...

KSE-100 Index soars with record-breaking single-day gain of 3,411...

Bulls added 3,411 points (↑ 4.69%) to the KSE – 100 Index to close at 76,208 level....

“Riding the Wave: KSE-100 Index Soars Amid Post-Budget Euphoria”

The Pakistan Stock Exchange (PSX) opened on an overwhelmingly positive note in the post-budget session as the...