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Getac Technology Corporation Announced Transformation to Investment Holding Company for Specialization and Improved Equity

2021.03.23
To improve the operating efficiency of the company, implement policies encouraging the independent development of business units, and enhance the long-term competitiveness of the Group, Getac Technology Corporation (TWSE:3005 Getac) held a board meeting on March 23, 2021, to adopt a resolution to transform into an investment holding company and change name to “Getac Holdings Corporation” (hereinafter referred to as “Getac Holdings”). The business (including assets, liabilities and operated business) of the Rugged Solutions Business Group and Mechatronic & Energy Solutions Business Group will be divided and transferred to two completely held subsidiaries. The base date was temporarily set to October 1, 2021.

The business of the original Getac Technology Corporation Rugged Solutions Business Group will be divided and transferred to the completely held “Getac Corporation.” From the business value of the Rugged Solutions Business Group amounting to NT$ 500,010,000, Getac Technology Corporation will exchange NT$ 15 for 1 common stock issued by Getac Corporation and eventually acquire a total of 33,334,000 stocks. Getac Corporation will be completely held by Getac Holdings after the division, focusing on the operation of the Getac brand business, increasing the market penetration of Rugged Computing Solution & Video Solutions, and at the same time providing more hardware and software integrated solutions through strategic partnerships to extend the range of products and services, and to increase the revenue.

The business of the Mechatronic & Energy Solutions Business Group will be divided and transferred to the completely held “GTC Solution Corporation.” From the business value of the Mechatronic & Energy Solutions Business Group amounting to NT$ 78,991,000, Getac Technology Corporation will exchange NT$ 11 for 1 common stock issued by GTC Solution Corporation and eventually acquire a total of 7,181,000 stocks. GTC Solution Corporation will be completely held by Getac Holdings after the division and be dedicated to the business of Power Solutions, Industrial Displays, Product Prototype Service, and Automation Solutions that were originally under the businesses of Getac Technology Corporation. It will integrate the products and techniques within the Group and provide services for the design of electronics and mechanisms to develop high value-added product lines.

As Chairman James Hwang of Getac Technology Corporation stated, after transforming to a holding company, its core business units Rugged Solutions BG, Mechatronic & Energy BG, Plastic BG, Auto BG, and NAFCO can be dedicated to their own areas of expertise, and they will be more flexible in the collaboration and formation of joint ventures with strategic partners or making equity investments in them. Management efficiency can be optimized via Getac Holdings as a platform and the Group may have more efficient business operations to improve overall long-term competitiveness and visibility on the international market.

The division of business and transformation to an investment holding company are a restructuring of the organization. The equity of Getac Technology Corporation is not affected and Getac Holdings (TWSE:3005 Getac) remains qualified as a listed company. The proposal for division of business and transformation to an investment holding company will be discussed and resolved at the general shareholders’ meeting of Getac Technology Corporation on May 31, 2021.