Business-to-Business Interoperability Software Company TIE Holding N.V. (“TIE”) listed on the EuroNext Amsterdam Stock Exchange hereby announces that it is finalizing the acquisition of Digital Channel, a privately held company based in the Netherlands and specializing in real-time web-based product information management. Digital Channel will be integrated with TIE’s operations in the Netherlands and has moved to the TIE Offices in Schiphol-Rijk. The transaction is valued at EUR 2.1m. The transaction is in the final stages of completion following a financial and technical due diligence, but with some specific details to be finalized over the next few weeks. Due diligence did not give rise to any issues that have a material impact on the transaction. TIE will pay the vendors EUR 360k in cash from the proceeds of a one-year, EUR 400k, 5% Convertible Bond placed with Alto Imaging NV, a company that is partly owned by Mr. Peter van Schaick who also owns 25% of TIE. EUR 870k will be paid to the vendors through a one year Convertible Bond issued by TIE and EUR 870k will be paid through a three year Convertible Bond to those owners of Digital Channel who will join TIE. The Digital Channel organization will be fully integrated into TIE Netherlands and their employees will be offered employment within TIE.
With the acquisition of Digital Channel, TIE will be able to access parts of the market not currently addressed by TIE products as well as having the ability to leverage TIE’s technology infrastructure for the benefit of Digital Channel customers. TIE will deliver its Business-to-Business integration and know-how to existing Digital Channel customers that are ready to take the next step and integrate a Digital Channel solution into their existing business processes. TIE technology begins where Digital Channel technology ends and by bringing together employees, customers, products and technologies of TIE and Digital Channel, TIE will further enhance its market penetration and strengthen its continued commitment to helping customers and partners create a competitive edge in their respective markets.
“We are pleased with Digital Channel and look forward to welcoming the Digital Channel employees as full fledged members of the TIE team,” said Dick Raman, TIE CEO and President. “With the addition of Digital Channel’s technology, distribution channel and markets, TIE is even better positioned than before to deliver its Business-to-Business integration know-how and solutions to its clients.”
About TIE
TIE is an international B2B software company, established in 1987 and focused on Business Interoperability. TIE enables companies to do business electronically and to lower costs by synchronizing their product information and business processes with their partners in the Supply Chain. TIE plays a major role in global eBusiness standardization and has years of experience providing TIE customers with the benefit of solid, future-proof products. TIE is a Public Company with thousands of customers across all major industry sectors. TIE has offices in the USA, Netherlands, Belgium, and France and is represented in Europe, Latin America and Asia.
Further information: TIE Holding N.V.
Dick Raman, President & CEO
Beech Avenue 180
1119 PS AMSTERDAM (Schiphol-Rijk)
The Netherlands
Tel: +31-20-658 93 33
Fax: +31-20-658 99 02
24 New England Executive Park
Burlington MA,
01803-5080 USA
Tel: +1-781-272 42 52
Fax: +1-781-229 04 77
e-mail:
info@TIEglobal.comWeb site:
www.TIEglobal.comwww.digital-channel.com