Systems Limited informed on Wednesday that it was considering a potential acquisition of Information Technology (IT) services business.
The company shared this in a notice to the Pakistan Stock Exchange (PSX) today.
It said that the acquisition is subject to finalization of negotiations of commercial terms, completion of due diligence, execution of definitive
agreements and receipt of regulatory approvals.
The listed company also informed that bourse that in its board meeting,
Fayez Qamar Rasheed was appointed as the Company Secretary
of Systems Limited.
Earlier, Systems had announced its intention to incorporate a new company in the UK region.
Systems Limited was founded in 1977 as a private limited company and was converted into a public listed company in 2005. SYS was listed on PSX in 2015.
The principal activity of the company is the development and trading of software and business process outsourcing services. In short, SYS assists its clients in their digital transformation journey.
Besides having a strong footprint in the local market, the company has a firm presence in the US, UK, EU and Middle East.
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