NdcTech and Systems Limited join strengths to synergize IT services for the Banking Industry

May 10, 2022

Press release

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% shares 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, Middle-East, Africa, and the APAC region. This acquisition is conditional on receiving regulatory approvals over the next few weeks.

Asif peer

Asif Peer

CEO & Managing Director , Systems Limited

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 & MD at 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. 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

Ammara Masood

CEO, NdcTech

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 Systems’ 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.

About Systems Limited

Systems Limited is Pakistan’s global technology powerhouse that holds the distinction of being the country’s first-ever software services company. Since 1977, Systems Limited has stayed at the leading edge of innovation to deliver the promise of digital technology to a wide array of industry verticals both locally and internationally. The company’s key strategic partnerships with the world’s leading technology providers allow it to deliver unmatched technological capabilities that enable enterprises to drive and sustain long-term growth. With a long list of awards and achievements, including two back-to-back Forbes Asia Best Under A Billion accolades, Systems Limited has established itself as a true leader in technological innovation and Pakistan’s most decorated IT organization.

The company has maintained a continuous trajectory of growth this year, with many awards & accolades that speak volumes about its accomplishments. The company won the first-ever LCCI President’s IT Award, earned a place among the global top of Microsoft Technology Partners in their 2020/2021 Business Applications Inner Circle, and became Pakistan’s first IT company to reach Rs.100 billion in market capitalization.

About NdcTech

NdcTech, an award-winning partner of Temenos empowers leading Banks and Financial institutions globally by accelerating their digital transformations. With over 22 years of deep banking knowledge, and experience, NdcTech brings innovative offerings to clients seeking to strengthen their banking capabilities through its services of Core Banking Modernization, Digital Banking transformations, Consultancy, Managed Services, and Banking on the Cloud.

Each day our certified team of consultants delivers best-of-breed technology solutions and world-class services, enabling our clients to improve the effectiveness of their business and technology so they can sense opportunities sooner and outpace change.

NdcTech’s success stories on Temenos Implementation have been published by well-recognized media and analysts. NdcTech was recently recognized as a major contender in Everest Group’s “Temenos IT services PEAK Matrix® Assessment 2022″.

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Read More
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