B2B Integration Software Company TIE Holding N.V. (“TIE”) listed on the EuroNext Amsterdam Stock Exchange hereby announces that it has reached an understanding to purchase a controlling interest in TIE France SAS. TIE Holding NV will increase its existing 30% stake in TIE France to 51%. The remaining shares will be purchased by the TIE Director who is to run TIE France.
TIE France markets eCommerce solutions to some 400 customers. It has a particularly strong position in the retail sector (InterMarché, Carrefour, Auchan) and among large international organizations (such as Thyssen, Warner Bros, Nina Ricci, ABB, Alcatel and Toyota). It is the third largest market player in France in B2B Integration solutions.
The transaction is in line with TIE’s strategy to acquire similar businesses in other countries and enables TIE to accelerate its international growth. Available funds will be used to finance the transaction. TIE expects to complete the acquisition in January 2005.
Roy Lucke, currently Managing Director of TIE International BV will personally acquire 49% of the shares of TIE France. He will assume the role of Managing Director of TIE France. The current shareholders of TIE France are a group of five employees that founded the company in 1996 with the help of TIE. They have operated under the TIE name in France and managed to keep the company profitable even during difficult times. TIE France paid a dividend of EUR 37.000 to TIE Holding last year.
Dick Raman, CEO of TIE: “Taking a controlling interest in TIE France is a further step in TIE’s strategic direction. We can now consolidate the results of TIE France, which will add to TIE’s overall results. Roy Lucke has been working for TIE since 1991 and has extensive knowledge of our business sector. We are happy and confident to see him at the helm of TIE France.”
About TIE
TIE is an international B2B Integration software company, established in 1987 and listed on the EuroNext Amsterdam Stock Exchange in the NextEconomy Index. TIE provides state-of-the-art software tools and in-depth expertise to TIE subsidiaries and resellers all over the world. These local Solution Providers help companies to do business electronically in order to improve the efficiency and effectiveness of their business processes and to lower their costs. TIE's main solutions in the 'Enterprise Portal Framework' allow companies to integrate their back-office processes to those of their trading partners and to manage product information. Since the TIE solutions are based on years of EDI as well as XML experience, TIE customers can reap the benefit of true open trading. TIE has a broad customer base in the Netherlands, Belgium, France and the USA and is a major player in Europe, Latin America and Asia.
Further information: TIE Holding N.V.
www.TIEglobal.com
xbrl.TIEglobal.com