Systek, a provider of IT management solutions and system integration services, has been transforming its business operation from a distributor for international brands toward developing software solutions for own-brand sales, according to company president Frank Lin.

Systek has scored points in tapping the China market through setting up a joint venture with the Institute of Computing Technology under the Chinese Academy of Sciences and acquired a 30% stake in Forms Syntron, a China-based developer of IT management solutions specifically for banks and financial institutions, in 2010, according to the Taiwan-based company.

Systek is also looking to larges business opportunities derived from Taiwan-based banks which have established or plan to establish branches or subsidiaries in China after the cross-strait Economic Cooperation Framework Agreement (ECFA) came into effect, Lin said.

In line with its operational transformation, Systek has set aside a budget of NT$1.4 billion (US$47.5 million) for mergers with, acquisitions of, or investment in relatively small companies with software technologies or products complementary to Systek's, Lin indicated, adding it is in talks with 10 targets about mergers-acquisitions.

To market in-house-developed products, Systek plans to set up three centers for mobile, cloud computing and outsourcing services respectively in 2011, Lin said.