Business-to-business interoperability software company TIE Holding N.V. (“TIE”) listed on the EuroNext Amsterdam Stock Exchange hereby announces that it has placed 1.75m new shares with a professional investor at a price of EUR 0.30 per share. The transaction will be completed this week and will further strengthen TIE’s cash position with over half a million euro. The total number of shares in issue following this placement will be 48,728,499.
The Company is in a transitional phase in its delivery of Software as a Service (SaaS), which represents the starting point of a product offering that can be expected to generate a more stable revenue stream. Whereas traditional license revenues are taken to income immediately, SaaS revenues are accrued over the period in which the service is provided. This results in a temporary timing difference between expenses and revenues, as reflected in the cash position and the bottom line, and will continue to play a role as we build critical mass and beyond.
Dick Raman, CEO of TIE: “
We have been working on various ways to improve our cash position to fund our growth and our transition to SaaS. We are focusing on organic growth, but we also look to acquire companies that fit our strategy and will add to our growth and bottom-line. We are talking to a number of possible acquisition candidates.”
About TIE
TIE bridges the gap between online and traditional business, and helps industry and supply chain partners achieve electronic business collaboration without limitations. Our solutions are proven to lower costs, increase sales, optimize business processes, and improve efficiency while removing the barriers to eBusiness information exchange. Because we have decades of experience to share, TIE remains a key contributor to the development and implementation of global eBusiness standards. Today we are the partner that industry leaders turn to for business-to-business success. TIE is a publicly held company with offices in the United States, France, and the Netherlands.
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
e-mail:
info@TIEglobal.com Web site:
www.TIEglobal.com