The agreement includes an unconditional share purchase from vendors Actis Stark (Mauritius) Ltd, APIS Growth 14 Ltd, Loh Wee Hian, and Tobikiri Capital Ltd, who collectively own the majority stake . Following the acquisition, NTT DATA will also extend a mandatory take-over offer to acquire all the remaining shares not already held by the company at RM1.08 per share.
This strategic acquisition is expected to strengthen NTT DATA's position in the Southeast Asian market by leveraging GHL Systems' established payment service network. The completion of the acquisition is anticipated within two market days from the date of the notice.
This acquisition positions NTT DATA to expand its influence in the ASEAN region. GHL Systems has an extensive network of over 480,000 payment terminals and comprehensive payment services in Malaysia, Philippines, Thailand, Indonesia, Singapore and Australia. With this acquisition, NTT DATA gains access to a broader customer base and market presence.
NTT DATA does not intend to maintain GHL's listing status. If NTT DATA manages to acquire more than 90% of the shares, it will withdraw the company's listing. This could impact GHL's visibility and regulatory requirements.
The acquisition may have financial implications for GHL, as following the completion of the acquisition, NTT DATA's direct shareholding in GHL will increase from nil to 670,440,235 shares, representing 58.73% 3. The financial resources available to NTT DATA will likely influence GHL's growth trajectory.
GHL Systems has a presence in India through GHL India Asset, which is described as a diverse fintech alternate investment platform. It aims to generate recession-proof income for investors and supports India's promising business ideas in top-growing markets.
GHL operations in India include a focus on the IT sector, with an emphasis on cloud services and digital transformation. The company's investment in India's IT sector is expected to hit US$ 5 billion annually by 2025.
With NTT DATA's recent acquisition of a 58.73% stake in GHL Systems, there is potential for further expansion and synergies in the Indian market. NTT DATA's expertise in IT services and consulting could enhance GHL's operations and offerings in India.
NTT DATA operates payment businesses through group companies in Asia, such as VietUnion Online Services (Payoo) in Vietnam, iPay88 in Malaysia and NTT DATA Payment Services India to contribute to the local societies of each country which, NTT Data claims, have been growing continuously.
At this time, NTT DATA has agreed to acquire a majority share of GHL Systemsfrom its major shareholders aiming to expand assets including services and know-how in the payment business and strengthen business foundations in the ASEAN region. NTT DATA also plans to propose a tender offer to its other shareholders following the rules at BURSA MALAYSIA, a stock exchange market in Malaysia.
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