Brief: TIE Kinetix Closes Sale Of 'Google-Ads-For-Channel' And TCMA To Impartner

ER Capital Nv

24/08/2020 07:26

Aug 24 (Reuters) - TIE Kinetix  TIEH.AS :  
    * ANNOUNCED ON SATURDAY FINANCIAL CLOSE OF SALE OF ITS
BUSINESS
LINE 'GOOGLE-ADS-FOR-CHANNEL' AND TCMA TO IMPARTNER INC. OF THE
US FOR A CONSIDERATION OF € 6 MLN
    * AN AMOUNT OF € 3 MILLION IS PAID ON CLOSING
    * AN AMOUNT OF € 3 MILLION HAS BEEN PROVIDED AS A 10% VENDOR
LOAN
MATURING IN 12 MONTHS
    * TRANSACTION INCLUDES 4 STAFF IN THE NETHERLANDS AND 5 IN
THE US
AND SEVERAL CUSTOMER CONTRACTS
    * TRANSACTION PROVIDES OPPORTUNITY TO SECURE STRONG
STRATEGIC
FOCUS ON EDI INTEGRATION AND 100% DIGITALIZATION WITH FUNDING TO
INVEST IN FURTHER GROWTH AND MARGIN DEVELOPMENT IN B2B AND B2G
MARKETS
    * BUSINESS TRANSFERRED GENERATED € 2.2 MILLION IN REVENUE IN
FY
2020 (STARTING OCTOBER 1, 2019)

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nNDL4bxfkb
    
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