SPS Commerce, Inc. completed the acquisition of TIE Kinetix N.V.
September 12, 2023
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SPS Commerce, Inc. (NasdaqGS:SPSC) reached agreement to acquire TIE Kinetix N.V. for ?68.35 million on July 26, 2023. As per the share purchase agreement ?3 million will be held in escrow for a period of twelve months following completion. The transaction is subject to approval of the shareholders of TIE Kinetix and is expected that this general meeting will be held during the first half of September 2023. The acquisition is expected to close in the quarter ending September 30, 2023. TIE Kinetix N.V. will change its name into Titan N.V.
SPS Commerce, Inc. (NasdaqGS:SPSC) completed the acquisition of TIE Kinetix N.V. for ?68.35 million on September 13, 2023.
SPS Commerce, Inc. is a provider of cloud-based supply chain management services that supports retailers, grocers, distributors, suppliers, and logistics firms to communicate and collaborate by simplifying how they manage and share item, order, and sales data across omnichannel retail channels. The Company's products include Fulfillment, Analytics and Other products. Fulfillment product is a full-service electronic data interchange (EDI) solution that scales as a business grows. Analytics product enables organizations to improve visibility into how products are selling through a single connection across all sales channels, including wholesale, eCommerce, and marketplaces. The Company provide several complementary products, such as assortment, and community. In addition to these offerings, it also provides one-time services such as professional services and testing and certification. It provides supply chain digitalization including EDI and e-invoicing in Europe and the United States.