BOCA RATON, Fla., Agilysys, Inc. (NASDAQ:AGYS) , a leading provider of innovative IT solutions and hospitality software solutions, today announced it has entered a definitive agreement to acquire InfoGenesis, a privately held, independent software vendor (ISV) and solution provider to the hospitality market. Based in Santa Barbara, Calif. and at approximately $42 million in annual revenues, InfoGenesis offers enterprise-class point-of-sale (POS) solutions that provide end users a highly intuitive, secure and easy way to process customer transactions across multiple departments or locations, including comprehensive corporate and store reporting.
InfoGenesis has significant presence in casinos, hotels and resorts, cruise lines, stadiums and foodservice. The acquisition will provide Agilysys a complementary offering that will extend its reach into new segments of the hospitality market, broaden its customer base and increase its software application offerings.
"With some of the world's leading properties as customers, the acquisition of InfoGenesis will further strengthen Agilysys' market position in the hospitality industry," said Arthur Rhein, chairman, president and chief executive officer of Agilysys. "The acquisition will also provide us a competitive advantage with enhanced levels of integration between property management, POS, and inventory and procurement systems, as well as our golf course and spa management applications. Over the years, we have worked closely with InfoGenesis at a number of mutual customer locations and together will market a powerful single-source solution that enables properties to increase guest loyalty and overall profitability."
Over the trailing 12 months ended March 31, 2007, InfoGenesis generated revenues of approximately $42 million and earnings before interest, taxes, depreciation and amortization ("EBITDA") of approximately $7 million.
The purchase price of $90 million will be funded by cash on hand. The transaction is expected to close mid-to-late June, subject to, among other things, the satisfaction of customary closing conditions.
In addition to its California headquarters, InfoGenesis has a customer operations and support center in Las Vegas. The company has approximately 170 employees.
Rhein added that today's announcement continues the company's recent aggressive acquisition activity. Over the last six months, this is the second acquisition Agilysys has made in the hospitality IT market and the fourth overall. Recently announced transactions include:
- Innovativ Systems Design, an integrator and value-added reseller of servers, enterprise storage management products and professional services, and the largest U.S. commercial reseller of Sun Microsystems servers and storage products;
- Stack Computer, a premier technology integrator with a strong focus in high availability storage infrastructure solutions; and,
- Visual One Systems, a leading developer and marketer of Microsoft(R) Windows(R)-based software for the hospitality industry including applications in property management, condominium, golf course, spa, point-of-sale, and sales and catering management.
Rhein said, "I continue to be impressed with our organization's ability to execute our strategic plan, including the rapid identification, negotiation and integration of targeted acquisitions."
The acquisitions are consistent with previously announced plans to use proceeds from the sale of Agilysys' former distribution business to fund growth organically and through acquisition. Including the acquisitions listed above, Agilysys has pro forma revenues in excess of $850 million.
Contact
Julie Young
Phone: +1-440-720-8602
Email: julie.young@agilysys.com
Organization
Agilysys, Inc.
https://www.agilysys.com/
3655 Brookside Pkwy, Ste 300
USA
- Alpharetta, GA 30022
Tollfree: 18002418768
Phone: 1 (877) 369-6208
Email: sales@agilysys.com
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