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Taiwan Mobile Co., Ltd. (3045) announced on Nov. 6 that all conditions have been met for the tender offer by its wholly owned subsidiary, Taiwan Cellular Co., Ltd., for common shares of Systex Corporation (6214). A total of 133,836,625 shares, representing approximately 49.16% of Systex's issued shares, were validly tendered. Combined with the 11.86% stake Taiwan Mobile already holds, its total ownership in Systex will reach 61.02% once the transaction closes. The consideration consists of approximately NT$12.38 billion in cash and about 112.4 million Taiwan Mobile common shares, bringing the total transaction value to approximately NT$27.3 billion.
Taiwan Mobile President Jamie Lin (林之晨) thanked Systex’s shareholders and management team for supporting the offer. He said the two companies have worked together for nearly two years and that their synergies continue to grow. They will further deepen their strategic alliance and focus on three key areas — cross-selling, AI and regional expansion — to seize growth opportunities in the AI era and accelerate revenue and profit growth in enterprise services. The goal is to push total enterprise services revenue past NT$100 billion within three years and double their market share in IT services within six years, while taking the technology and service capabilities developed in Taiwan to Japan and Southeast Asia. The alliance will also increase the contribution of enterprise services to Taiwan Mobile's overall revenue, profit and long-term shareholder value.
Since establishing their strategic partnership in 2024, Taiwan Mobile and Systex have jointly introduced nearly 50 enterprise solutions, generating billions of New Taiwan dollars in business synergies. The number of projects secured through their collaboration has grown more than tenfold year over year. Together, they have nearly 4,500 software and technology professionals and close to 1,000 sales staff. By combining Taiwan Mobile's telecommunications, AI and enterprise customer resources with Systex's experience in IT services across various industries, the companies will scale up the development, sales and delivery of enterprise solutions, expanding their market reach and ability to take on large-scale projects.
The two companies will continue to advance cross-selling, AI and regional expansion to increase the revenue and profit contributions of their existing cooperation. In cross-selling, they will integrate customer bases and product portfolios to grow their cloud, cybersecurity and ICT businesses. In AI, they will combine Taiwan Mobile's telecommunications, computing power and AI capabilities with Systex's strengths in software development, systems integration and industry applications, speeding up the commercialization of enterprise AI adoption and application services. In regional expansion, they will draw on Systex's operations and partner networks in Japan, Singapore and Southeast Asia to bring AI and ICT solutions developed in Taiwan to overseas markets. The deepened alliance is expected to boost Taiwan Mobile's earnings per share (EPS) growth starting in the first year of integration, with benefits building further from the second year onward. Over the long term, the companies are targeting a compound annual growth rate of more than 20% in enterprise IT services revenue.
Systex shareholders who tendered their shares will receive cash consideration and will also hold Taiwan Mobile shares, giving them exposure to the company’s diversified businesses, including its core telecommunications operations, enterprise services, new technology businesses and its e-commerce platform, momo. They will also continue to benefit indirectly from Systex's growth and the long-term value created through the strategic partnership between the two companies.
