IT services provider Tie Kinetix will say goodbye to the (brand) names Tie and Tie Kinetix on 13 September. The new owner SPS Commerce has decided to do so. Titan will be the new name. Late last month, the Americans announced they would acquire the entire Breukelen-based company, which specialises in the digitisation of supply chains, for over €68 million.
After taxes, 62.5 million euros remains for the existing shareholders. SPS proposes to pay this amount in the form of an interim dividend. An extraordinary meeting of shareholders is due to take a decision on 6 September.
The demise of Tie Kinetix and the sale of its assets to SPS creates a new NV called Titan, which is left locally listed with just under 3 million euros in value "to handle business".
