KEY HIGHLIGHTS
- SMRT is buying a 37.5% stake in Singapore digital banking tech firm NTPL.
- The S$7.09mil deal gives SMRT access to NTPL’s payments and ATM infrastructure across Southeast Asia.
- Move strengthens SMRT’s push into IT solutions, aiming to boost recurring revenue and regional growth.
From the outside, it may look like just another corporate deal. But if you’ve been following SMRT Holdings’ recent moves, this one feels like the clearest sign yet that the group is doubling down on a pure IT and digital solutions future. And honestly, it makes sense—especially as demand for payments tech, digital banking tools and automation grows everywhere from Jurong East to Pasir Ris.
SMRT has announced plans to acquire a 37.5% stake in Novus Technologies Pte Ltd (NTPL), a Singapore-based digital banking infrastructure player. The purchase price? S$7.09 million, funded entirely through internal resources.
This move pushes SMRT deeper into digital payments, ATM deployment, point-of-sale systems and cross-border financial tech solutions. For a group that once spread across education, tech and other sectors, this is a sharp turn toward becoming a specialist IT provider.
Join WhatsApp
SMRT & NTPL Deal Overview
| Item | Details |
|---|---|
| Stake Acquired | 37.5% |
| Purchase Price | S$7.09 million |
| NTPL FY2025 Revenue | S$12.81 million |
| NTPL FY2025 Profit After Tax | S$496,000 |
| Deal Completion Expected | Q4 2025 |
| SMRT’s Goal | Strengthen IT and digital solutions portfolio |
Why This Deal Matters
If you’ve ever queued at a bank branch or tried to pay at a heartland mama shop and the terminal acted up, you know how essential strong payment infrastructure is. NTPL has been building these systems for years.
The firm—set up in 2013—runs digital and retail transaction solutions across Sri Lanka, the Philippines, and Cambodia. Think ATMs, POS terminals and agent banking systems that keep small merchants and regional banks connected.
By taking a major stake, SMRT gets immediate access to NTPL’s tech stack and customer base. No need to build everything from scratch.
What SMRT Says It Wants to Achieve
SMRT’s board shared that this deal is part of its long-term plan to grow its IT and digital business. With this acquisition, the group aims to offer integrated digital and IoT solutions not just in Singapore but across Southeast Asia.
In simple terms?
They want to bundle payments, automation, analytics and enterprise technology into a strong regional offering.
The group is expecting synergy in three main areas:
1. Customer Access
SMRT gets to tap into NTPL’s established networks in multiple countries.
2. Product Expansion
By combining each other’s tech, both firms can broaden their offerings.
3. Research & Development
Joint innovation is expected to be a core focus over the next 12–18 months.
SMRT believes the expanded operations could help lift recurring revenue and improve regional growth.
How the Purchase Works
Here’s the straightforward version:
- SMRT signed a conditional sale and purchase agreement with Asia Fintech Ventures Group (AFVG), NTPL’s sole shareholder.
- A S$1 million deposit was already paid when the letter of intent was signed back in October.
- The remaining S$6.09 million will be paid upon completion.
- The valuation was based on an EV/EBITDA multiple of 9.66 times, reflecting NTPL’s earnings potential.
- No additional liabilities or capital injection are needed, since NTPL is already a functioning business.
In short, SMRT is buying into a stable tech player without taking on extra baggage.
A Quick Look at SMRT’s Recent Reshuffle
This isn’t SMRT’s first major shift.
Over the last few years, the group:
- Took full control of N’Osairis Technology Solutions in 2023
- Exited the education business
- Announced its intent to focus on becoming an IT solutions powerhouse
So this deal with NTPL fits neatly into the bigger picture.
The board even said the acquisition “will potentially augur well for the long-term growth prospect of SMRT Group.”
Completion is expected by Q4 2025, provided all conditions are met.
FAQs
Is NTPL a well-established company?
Yes, NTPL has been around since 2013 and serves financial institutions across Southeast Asia.
Why is SMRT buying only 37.5%?
It allows SMRT to take a meaningful stake while managing investment risk, especially in a fast-moving digital sector.
Does the deal involve new debt?
No. SMRT stated it’s funding the purchase entirely through internal resources.
Will NTPL’s operations change?
There’s no indication of major changes yet. The immediate focus is on synergy, product expansion and R&D collaboration.
How does this benefit Singapore customers?
Better digital banking and payments infrastructure often trickles down—think smoother ATM experience, more reliable merchant terminals, and improved fintech solutions.
