Taiwan acquires more than half of Jingcheng’s equity and joins forces to directly attack overseas AI markets

Lin Zhichen, Taiwan’s general manager. (Photo by reporter Wang Yihong)

[Reporter Wang Yihong/Taipei Report] Taiwan Mobile (3045) announced today (4th) that its wholly-owned subsidiary Taixin Telecommunications has publicly acquired the common shares of Jingcheng Information (6214). As of 1:16 pm on November 4, 2015, the cumulative number of shares for sale reached 111,311,711 shares. Accounting for 40.89% of the issued shares of Jingcheng, it has officially crossed the minimum acquisition quantity threshold; and has obtained the Fair Trade Commission resolution not to prohibit the combination of this case. The two achievement conditions of this public acquisition have been fully met. Thanks to the support of Jingcheng shareholders, the strategic cooperation between the two parties starting in 2024 has moved towards an in-depth alliance.

Taiwan Taiyuan pointed out that after the acquisition period expires and the stock delivery is completed, together with the 11.86% equity held by Taiwan Taiyuan, it will obtain more than half of the equity of Jingcheng after the completion of the transaction.

Taiwan University said that it has jointly launched nearly 50 enterprise solutions with Jingcheng, and the number of completed cases has increased by more than 10 times in several years; in the future, it will deepen the three major synergies of "cross-sales, AI, and regionalization", integrate Taiwan University's telecommunications network, cloud, AI computing power and Jingcheng's software and system integration capabilities, expand enterprise AI and ICT services, and expand into Japan, Singapore and Southeast Asian markets.

Taiwan University said that this public acquisition will continue to be accepted until 3:30 pm on November 5. Each Jingcheng ordinary share can be exchanged for 92.5 yuan in cash and 0.84 Taiwan University shares. After the sale, shareholders of Jingcheng can not only obtain cash, but also participate in the growth of Taiwan's core telecommunications, corporate services, new technology businesses, momo and other diverse businesses by holding Taiwan's shares. With the completion of this public acquisition, they can also hold Jingcheng's equity through Taiwan's shares and continue to share the future results of the strategic cooperation between the two parties. Taiwan's large stocks have high market liquidity, which can increase the flexibility of shareholders' subsequent asset allocation. Taiwan University reminds shareholders who intend to participate to grasp the final sale deadline and follow the public acquisition instructions.