Japanese IT Giant NTT DATA to Acquire 58.7% of GHL Systems for RM724 Million

Japanese IT Giant NTT DATA to Acquire 58.7% of GHL Systems for RM724 Million

by May 28, 2024

NTT DATA, a Japanese multinational information technology service and consulting company, has announced its agreement to acquire 58.7% of GHL Systems Berhad, a payment service provider headquartered in Malaysia.

The acquisition, valued at RM724.08 million, involves purchasing 670,440,235 ordinary shares from major shareholders, including Actis Stark (Mauritius) Limited, APIS Growth 14 Ltd, Loh Wee Hian, and Tobikiri Capital Ltd.

Through CIMB Investment Bank, NTT DATA Japan Corporation will execute an unconditional mandatory take-over offer to acquire all remaining ordinary shares in GHL Systems.

Following the acquisition, NTT DATA plans to propose a tender offer to the remaining shareholders of GHL Systems, adhering to the rules and regulations of Bursa Malaysia.

The offer price is set at RM1.08 per share, consistent with the acquisition price from the major shareholders.

NTT DATA operates the CAFIS payment platform, which has been in operation for 40 years in Japan.

The company has expanded its payment business through various group companies across Asia, including VietUnion Online Services (Payoo) in Vietnam, iPay88 in Malaysia, and NTT DATA Payment Services India.

Countries and main payment business areas of NTT DATA

With this recent acquisition, NTT DATA aims to enhance its presence in the ASEAN region by leveraging GHL Systems’ extensive network of over 480,000 payment terminals and services in countries such as Malaysia, the Philippines, and Thailand.

This move will integrate the strengths of NTT DATA and GHL Systems, enhancing the development of a cashless society through advanced payment services.

Meanwhile, the collaboration with iPay88 will provide comprehensive payment solutions for both physical and online retail in Malaysia.

Founded in 1994, GHL Systems offers a full lineup of local payment methods and bill payment services. The company is listed on Bursa Malaysia and has over 900 employees.

With an annual R&D investment of over US$3.6 billion, NTT DATA operates in over 50 countries, offering services in consulting, data and AI, industry solutions, and more.

 

Featured image credit: GHL