August 22nd, 2020 - Breukelen, the Netherlands at 12.00 PM CET
TIE Kinetix today announced the financial close of the sale of its business line ‘Google-Ads-for-Channel’ and TCMA to Impartner Inc. of the US for a consideration of € 6 million. An amount of € 3 million is paid on closing and an amount of € 3 million has been provided as a 10% vendor loan maturing in 12 months. The transaction includes 4 staff in the Netherlands and 5 in the US and several customer contracts. The business transferred generated € 2.2 million in revenue in financial year 2020 (starting October 1, 2019).
This transaction is an important strategic milestone for TIE Kinetix, providing the opportunity to secure a strong strategic focus on EDI Integration and 100% digitalization with funding to invest in further growth and margin development in B2B and B2G markets.
The ‘Google-Ads-for-Channel’ business, developed in close co-operation with Google, gained traction in 2019 and reported strong growth in 2020. Its portfolio serves both larger and smaller customers looking to optimize their digital media spend, with low cost per lead and high conversion rates. Impartner Inc. is well positioned to scale this business to the next level of maturity.
The TCMA product suite primarily serves US customers, with solutions separate and distinct from the TIE Kinetix core Integration suite of products. The TCMA product suite transferred provides Impartner Inc. with the unique opportunity to further grow this business within their own portfolio.
This document may contain expectations about the financial state of affairs and results of the activities of TIE Kinetix as well as certain related plans and objectives. Such expectations for the future are naturally associated with risks and uncertainties because they relate to future events, and as such depend on certain circumstances that may not arise in future. Various factors may cause real results and developments to deviate considerably from explicitly or implicitly made statements about future expectations. Such factors may for instance be changes in expenditure by companies in important markets, in statutory changes and changes in financial markets, in the salary levels of employees, in future borrowing costs, in future take-overs or divestitures and the pace of technological developments. TIE Kinetix therefore cannot guarantee that the expectations will be realized. TIE Kinetix also refuses to accept any obligation to update statements made in this document.
For further information, please contact:
TIE Kinetix N.V.
Michiel Wolfswinkel (CFO)
Phone: +31 (0) 88 3698060
About TIE Kinetix
At TIE Kinetix, we deliver Software as a Service (SaaS) solutions to companies, governmental institutions, and their suppliers, to help them exchange all business documents electronically and simplify supply chain processes as a result. FLOW Partner Automation, our software platform, empowers its users to engage in smart business exchanges and streamline communication through seamless integration with any existing system. Since 1987, we have supported all EDI and e-invoicing standards and communication methods worldwide. Today, our global team of experts share their knowledge with our 2,500+ customers, facilitating the exchange of over 1 billion documents through FLOW each year.
TIE Kinetix is a public company (Euronext: TIE), and has offices in the Netherlands, France, Germany, Australia, and the United States. For more information, visit www.TIEKinetix.com, and follow us on Linkedin, Twitter, Facebook, Xing and YouTube.
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