Tuesday 6th May, 2014

Tungsten Corporation plc has announced that OB10, the global e-Invoicing network, has completed its transition and integration, and will now function as "Tungsten Network".  OB10 was acquired by Tungsten Corporation plc in October 2013.

Tungsten Network Finance also announced last week that it has successfully started discounting invoices, with the permission of FIBI (Bank) plc and the Financial Conduct Authority.

Edmund Truell, Group CEO, Tungsten Corporation plc, said;

"The transition of OB10 into Tungsten Network underlines the central role e-invoicing plays for our customers and our business. The reorganisation is bearing fruit, with the first of our customers agreeing to be serviced globally on an enormous scale. The months of preparatory work are paying off, now we are starting to use the exceptionally promising analytics tool to support decisions in real time; and have started financing invoices."

To complement the integration, Tungsten Network’s UK operations are relocating to headquarters at Pountney Hill House, Laurence Pountney Hill, London, from 12 May.