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.