SPS Commerce to acquire TIE Kinetix for EUR 64.5M

SPS Commerce announced that it has reached an agreement to acquire TIE Kinetix. The transaction is subject to customary closing conditions, including the approval of the shareholders of TIE Kinetix N.V. “We are looking forward to welcoming TIE Kinetix employees and customers to our growing network of trading partners around the world,” said Archie Black, CEO of SPS Commerce. “With the acquisition of TIE Kinetix, SPS Commerce is strengthening its e-invoicing capabilities, while expanding our European presence to serve our growing network with access to international markets.” Under the terms of the purchase agreement, SPS Commerce will acquire the TIE Kinetix business for approximately EUR 64.5 million, net of cash acquired. As soon as reasonably possible, TIE Kinetix will convene an extraordinary general meeting of shareholders for the purpose of, amongst others, a shareholder vote on the transaction. The transaction is expected to close during the third quarter of 2023, subject to the satisfaction of customary closing conditions. Until close, the companies will continue to operate independently. SPS Commerce currently intends to finance the acquisition with cash on hand.