TIE and Gothia announce strategic partnership

TIE Kinetix (“TIE”) announced today that it has formed a strategic alliance with Gothia B.V., part of the Gothia Financial Group, a Norwegian based substantial provider of invoice administration, invoice purchasing, debt purchasing and debt collection. The alliance enables TIE to integrate and resell the PayByBill solution as part of the TIE Kinetix E-commerce Platform.

PayByBill enables clients to hand over their invoices to Gothia B.V.. Gothia B.V. will then become the economic and legal owner of the invoices and will handle all the payments, on behalf of its own account. Immediately after transferring the invoice, clients are reimbursed by Gothia B.V.

Jan Sundelin, CEO of TIE: “The strategic partnership enables TIE to step up from an E commerce solution to a total business solution for all E-commerce invoices, which includes invoice administration, invoice purchasing, debt purchasing and debt collection. Gothia’s payment solution is rapidly gaining popularity all over Europe. Therefore, we are pleased to be able to offer this solution to both current and new customers of the TIE E commerce Platform, providing them with increased liquidity, security and control over their debtors.”

Trond Kristian Andreassen, CEO of Gothia Financial Group: “We welcome TIE as a strategic partner and we look forward to collaborating and to expanding the partnership. This partnership will bring real business value to all clients in the market. Both parties are convinced that this partnership will result in a world class end-to-end offering, which is based on TIE’s high-class E-commerce solution and Gothia’s solid invoice administration, debt purchasing and debt collection.”

Profile Gothia
Gothia Financial group is a provider of invoice administration, invoice purchasing, debt purchasing and debt collection. The core business of their organization is to create, control and collect invoices. They have more than 30 years experience in the field of financial services and their clients are large and leading companies from various industries. The Company has locations and offices in Norway, Sweden, Finland, Denmark, UK, Ireland, Germany and the Netherlands, with the main office seated in Oslo. Gothia Financial Group has more than 800 employees and since 2008 its subsidiaries are wholly-owned by Norwegian Herkules Capital. Herkules is the leading Norwegian Private Equity firm with a total capital base of € 1.6 billion. More information on Gothia can be found on www.gothiagroup.com.

Profile TIE Kinetix
TIE Kinetix delivers innovative web centric, software based solutions that enable all trading partners in the supply chain to work seamlessly together on the major E-commerce processes of marketing, sales and fulfillment. With its TIE Kinetix concept, it provides a Total Integrated E-commerce process, embracing three innovative platforms for Business Integration (including e-invoicing, XML/EDI data synchronization), Content Syndication and E-commerce. The Total Integrated E-commerce solutions minimize the energy needed for a transaction lifecycle throughout the supply chain giving organizations the advantage to reduce cost and maximize revenue and profit.
TIE has more than two decades of experience in developing and implementing E commerce standards. TIE is a listed company with offices in the United States, Australia, France and the Netherlands.

www.tiekinetix.com


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