In a statement, GHL Systems said NTT Data Japan Corp has agreed to buy 58.73% of GHL Systems from some existing shareholders for RM724.1 million (US$154.2 million), or RM1.08 per share in cash.

Following the agreement, NTT Data Japan will need to make a mandatory takeover offer to acquire all the remaining GHL Systems shares.

Shares of GHL Systems, a payments services provider in Southeast Asia, have climbed 45% this year, valuing the firm at about US$245 million (RM1.151 billion).

NTT Data Group, based in Tokyo and part of the telecommunications conglomerate NTT Group, offers information technology services including consulting, network development and software.

Its shares have risen 21% this year, giving the company a market value of about US$21.6 billion (RM101.47 billion).

Japanese companies have been eyeing assets in Southeast Asia as they seek to expand and tap into the region’s growth potential.

Last month, Mitsui & Co and Rohto Pharmaceutical Co agreed to buy Eu Yan Sang International Ltd in a deal valuing the traditional Chinese medicine company at S$800 million (US$594 million or RM2.7905 billion).