Taiwan Mobile (台灣大哥大) held a material-information briefing on the evening of August 12, 2026, announcing that its board had resolved to launch a tender offer for Systex Corporation (精誠資訊, stock code 6214) through its wholly owned subsidiary Taihsin Telecom (台信電訊), using a "stock plus cash, half and half" structure, according to Inside. iThome's separate report confirms the same board decision and describes the target as "at least 39%" of Systex's shares.
The two outlets converge on the core terms but report the premium slightly differently. Inside puts the per-share consideration at about NT$184.5, a roughly 29.5% premium over Systex's closing price (32.5% versus the 60-day moving average and 38.5% versus the 120-day moving average). iThome describes the same NT$184.5 per-share figure as a roughly 29% premium and specifies the exchange mechanics: each Systex share can be swapped for 0.84 Taiwan Mobile shares plus NT$92.5 in cash.
| Metric | Value | Source |
|---|---|---|
| Total deal value | NT$19.58–29.13 billion | Inside |
| Per-share consideration | ~NT$184.5 | Inside / iThome |
| Premium vs. closing price | ~29.5% (Inside) / ~29% (iThome) | Inside / iThome |
| Premium vs. 60-day average | ~32.5% | Inside |
| Premium vs. 120-day average | ~38.5% | Inside |
| Exchange ratio | 0.84 Taiwan Mobile shares + NT$92.5 cash per Systex share | iThome |
| Target stake increase | 39%–58% | Inside / iThome |
| Shares to be acquired | 106.17 million–157.9 million shares | Inside |
| Stock consideration (at 58% cap) | ~132 million shares | iThome |
| Cash consideration (at 58% cap) | ~NT$14.6 billion | iThome |
| Tender offer window | Aug 18 – Oct 6, 2026 | Inside / iThome |
iThome adds that if the offer reaches its 58% cap, the total deal value would exceed NT$29.1 billion, which it calls "one of Taiwan Mobile's largest investments ever." At that ceiling, Taiwan Mobile's stake would move from its current 11.86% to become the controlling shareholder, per iThome.
Taiwan Mobile already holds 11.86% of Systex, making it the company's largest single institutional shareholder, according to both Inside and iThome. That position traces back to September 2024, when Taiwan Mobile first invested in Systex at NT$123 per share for a total of NT$3.97 billion, per Inside — a stake that iThome's report separately notes was reflected in Taiwan Mobile's June 2026 operating update, which cited equity-method investments such as Systex, plus valuation gains, as contributors to the period's profit.
The bid comes as Taiwan Mobile posts strong results: through July 2026, EPS reached NT$3.32, up 23% year-on-year — which Inside calls the top per-share earnings figure among Taiwan's telecom operators — on cumulative revenue of NT$115.38 billion and after-tax net profit of NT$10.09 billion, up 24% year-on-year.
On the mechanics of the stock portion, Chairman Jamie Lin (林之晨) told the briefing, as quoted by Inside: "So there are no new shares issued, and it isn't treasury stock — it's quasi-treasury stock." The shares being used as stock consideration come from Taihsin Telecom's existing holdings rather than a new issuance.
Per Inside, the deal's completion condition requires reaching the 39% threshold — which, combined with Taiwan Mobile's existing stake, would push combined ownership above 50% — and requires that Taiwan's Fair Trade Commission not block the combination. iThome frames the same condition as a mandatory merger filing once Taiwan Mobile's stake formally passes 50%, adding that Systex will continue to be listed after the deal closes, with a board reshuffle to follow.
On shareholder backing, Inside reports that Taiwan Mobile has already secured support from all of Systex's private (non-institutional) shareholders among its top five holders, plus Chairman Lin Lung-fen (林隆奮), with signed tender commitments covering more than 10% of shares. iThome's account specifies the same figure — over 10% in signed commitment letters — from Systex's top five shareholders excluding Taiwan Mobile itself and index/mutual funds, plus Chairman Lin's personal backing. Separately, Inside names the specific institutional signatories: Yongwei Capital, Zhuowei Capital, and Zhuoyue Capital — Systex's top three institutional shareholders — along with the founding family and the chairman, all of whom signed "E-Line" commitment letters representing over 10% of shares.
Asked why Taiwan Mobile did not first strike a block-trade deal with major shareholders before launching the public tender, Jamie Lin told Inside that Systex's founding family had insisted all shareholders receive identical terms, which led both sides to settle on a single-step public tender rather than a two-stage process.
According to Inside, Taiwan's information services market generated an estimated NT$6,596 billion in output in 2025, with Systex and Taiwan Mobile's combined market share "just over 7%" — which Inside's sourcing describes as leaving "huge growth potential." iThome cites the identical NT$6,596 billion market-size figure and puts the combined share at "about 7%," also noting considerable room for further growth.
Inside reports that once deeply integrated, the combined companies' software technical staff will reach close to 4,500 people, with sales staff near 1,000, and that long-term enterprise IT services revenue could achieve a compound annual growth rate above 20%. iThome's figures match: roughly 4,500 software engineers and close to 1,000 sales staff post-integration, with Taiwan Mobile projecting that the first year after the deal will boost revenue and EPS, effects that will "continue to amplify" from the second year, with long-term CAGR for the enterprise IT services business exceeding 20%.
Both outlets also point to a two-year track record predating this bid: since the September 2024 investment, the two companies have launched nearly 50 enterprise solutions together, generating several billion NT dollars in business synergy, with the number of closed deals growing more than tenfold from the initial cooperation period, according to Inside and iThome.
| Integration metric | Figure | Source |
|---|---|---|
| Combined software technical staff | ~4,500 | Inside / iThome |
| Combined sales staff | ~1,000 | Inside / iThome |
| Long-term revenue CAGR target | 20%+ | Inside / iThome |
| Enterprise solutions launched since 2024 | ~50 | Inside / iThome |
| Growth in closed-deal volume | 10x+ | Inside / iThome |
| Combined IT services market share, current | ~7% | Inside / iThome |
Inside reports that Taiwan Mobile's AI data center (AIDC) buildout "leads peers," in the company's own characterization, and that its 25-megawatt TAIDC01 facility, once operational, will support Systex's Ai4iA (AI for Industry Application) business. iThome's account adds that the planned 25MW TAIDC01 facility will support Systex's AI business needs specifically, and — combined with high-speed networking, cloud, and systems-integration capabilities — is intended to support expansion into Taiwan, Japan, and Southeast Asian markets for enterprise AI services.
According to Inside, the two companies plan to raise their combined IT services market share from 7% to 14% within four to five years, alongside a joint push into overseas markets. Inside also reports that Systex already operates a Japan joint venture with CDC focused on serving local manufacturing and telecom clients, into which Taiwan Mobile will inject AI solution resources going forward.
Announcing the deal on August 12, 2026 — roughly two years after Taiwan Mobile's initial September 2024 investment in Systex, per Inside — Chairman Jamie Lin framed the timing directly: "Having worked closely with Systex for nearly two years, both sides have concluded that each is the right partner. At this moment when AI is rapidly disrupting the market, it is also the right time — which is why we jointly decided to deepen this alliance," he said, as quoted by Inside.
The scale of the bid — up to NT$29.13 billion, which iThome calls one of Taiwan Mobile's largest investments ever — sits against a combined market share that both Inside and iThome put at just over 7% today, underscoring that this deal is a bet on the stated four-to-five-year plan to double share to 14% (Inside) rather than an immediate leap in scale. The "quasi-treasury stock" mechanism Jamie Lin described (Inside) explains why the stock portion of the deal avoids issuing new shares or drawing down conventional treasury stock. And the single-step tender structure — chosen, per Inside, because Systex's founding family insisted on identical terms for every shareholder — means that as of the announcement, signed commitments from Systex's private shareholders and chairman cover just over 10% of shares (Inside, iThome), still well short of the 39% floor needed for the deal's completion condition alongside FTC clearance (Inside, iThome).
The public tender offer runs from August 18 to October 6, 2026, according to both Inside and iThome.
Yes. iThome reports that once Taiwan Mobile's stake formally passes 50%, a merger filing with the Fair Trade Commission is required, but Systex will continue to be listed, with a board reshuffle to follow.
Just over 10% of shares, via signed commitments from all of Systex's private shareholders among its top five holders and Chairman Lin Lung-fen, according to Inside; iThome separately confirms the same over-10% figure, also naming Chairman Lin's support.
Per Inside and iThome, Taiwan Mobile must reach the 39% additional-stake threshold (pushing combined ownership above 50%), and the Fair Trade Commission must not prohibit the combination.
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