Alpha Networks forms strategic alliance with Qisda through private placement

 Alpha Networks Inc.’s (TWSE: 3380) board of directors announced on March 7 that the company will form a strategic alliance with Qisda Corporation (TWSE: 2352) via private placement at a price of NT$ 23 per share for a total amount of NT$ 2.3 billion for Qisda Corporation to acquire 100 million shares of Alpha Networks. With the capital increase in place, Qisda will possess 18.37% of Alpha Networks’ stock.

Alpha Networks Chairman John Lee emphasized that the company will steer its future strategies towards “mobile communication” in order to become the first Taiwanese network communication solution provider to foray into the domain of telecommunication solutions. “Through our alliance with Qisda, we hope to consolidate a point of entry for our solutions as we work together towards achieving optimal synergy.”

Qisda Corporation’s Chairman Peter Chen emphasized that since offering optimal solutions is one of Qisda’s core mission for strategic development, IoT technology is a a key component for Qisda’s solutions. “Given Alpha Network’s expertise in developing network communication solutions and offering relevant services, our strategic alliance in the near future will enable both companies to expand their channels and market. With the arrival of the 5G era and the vast potential opportunities it will bring, our alliance will give us a greater edge in the areas of telematics, smart city and Industry 4.0.”