-
Leading Developer and Marketer of Hospitality Software
will Significantly Enhance Agilysys Hospitality Solutions Offering
-
Acquisition Complements Agilysys Leadership Position
in the Hospitality Industry Hotel Casino and Destination Resort Segments
BOCA RATON, Fla. � Dec. 21, 2006 � Agilysys,
Inc. (NASDAQ: AGYS), a leading provider of enterprise computer technology
solutions, today announced it has signed a definitive agreement to acquire
Visual One Systems Corporation, a privately-held company with U.S. headquarters
in Frederick, Md., and Europe headquarters in Leatherhead, Surrey, U.K.
Visual One Systems is a leading developer and
marketer of Microsoft® Windows®-based software for the hospitality
industry with offerings including property management, condominium, golf
course, spa, point-of-sale, and sales and catering management applications.
Visual One Systems customers include well-known North American and international
full-service hotels, resorts, conference centers and condominiums of all
sizes.
�The acquisition of Visual One strategically
provides Agilysys a complementary product offering and significantly increases
the breadth of our customer set in the hospitality market,� said Arthur
Rhein, chairman, president and chief executive officer of Agilysys. �The
purchase also immediately provides Agilysys a Windows-based solution for
hotels and resorts that expands our current leading position in the hotel
casino and destination resort market.�
Rhein added, �Agilysys Hospitality Solutions
customers will find Visual One�s software can quickly and easily provide
automation of the functional areas of hotel and resort environments, including
their golf course, spa and catering facilities. Equally important, Visual
One customers will have access to the full Agilysys offering. This includes
the company�s Materials Management System (MMS) inventory and procurement
system, patented DataMagine� document management solution, hospitality
consulting services, as well as a new source for all additional enterprise
hardware, software or services needs.�
The acquisition will be funded by cash and is
expected to close in late January 2007 subject to, among other things,
the satisfaction of customary closing conditions. Visual One Systems has
annual revenues of approximately $9 million and operating income margins
of approximately 15 percent.
About Visual One Systems Corporation
Visual One is a privately-held company that has
provided software to the hospitality industry since 1977. Visual
One provides Property Management, Sales & Catering, Point of Sale,
Golf, Spa, Condominium Accounting, Payables, General Ledger, Purchase Order,
Central Guest Data Warehouse, Central Reservations systems, Self Check-in/out
kiosks, and Interfaces to hundreds of other systems. Visual One is
the lodging and golf system at many famous golf resorts such as PGA National,
Ocean Reef Club, and Barton Creek. In the UK Visual One is installed
in many fine establishments including The Strand Palace Hotel, Seymours
Group, Whittlebury Hall, and many others.
About Agilysys, Inc.
Agilysys is a leading provider of enterprise
computer technology solutions consisting of complex server and storage
hardware, software and services. The company serves a broad base
of customers in a wide variety of industries as well as the public sector.
Agilysys designs and implements tailored solutions to help end users resolve
their most complicated information technology (IT) needs, and supports
reseller partners in growing their businesses. By combining
proprietary software and services with the products and services of leading
suppliers, Agilysys serves as a critical link in the IT supply chain.
The company also offers industry-specific expertise in markets such as
retail and hospitality. Headquartered in Boca Raton, Florida, Agilysys
has sales offices throughout North America and China. For more information,
visit www.agilysys.com.
Forward-Looking Language
Portions of this release, particularly
the statements made by management and those that are not historical facts,
are forward-looking statements within the meaning of the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. Such forward-looking
statements are based on current assumptions and expectations, and are subject
to risks and uncertainties, many of which are beyond the control of Agilysys.
Many factors could cause Agilysys actual results to differ materially from
those anticipated by the forward-looking statements. These factors include
those referenced in the Annual Report on Form 10-K or as may be described
from time to time in Agilysys subsequent SEC filings.
Potential factors that could cause
actual results to differ materially from those expressed or implied by
such statements include, but are not limited to, those relating to Agilysys
anticipated revenue gains, sales volume, margin improvements, cost savings,
and new product introductions.
Other associated risks include
geographic factors, political and economic risks, the actions of Agilysys
competitors, changes in economic or industry conditions or in the markets
served by Agilysys, and the ability to appropriately integrate acquisitions,
strategic alliances, and joint ventures.
In addition, this release contains
time-sensitive information and reflects management's best analysis only
as of the date of this release. Agilysys does not undertake any obligation
to publicly update or revise any forward-looking statements to reflect
future events, information or circumstances that arise after the date of
this release. Information on the potential factors that could affect Agilysys
actual results of operations is included in its filings with the Securities
and Exchange Commission, including, but not limited to, its Annual Report
on Form 10-K for the fiscal year ended March 31, 2006. Interested persons
can obtain it free at the Securities and Exchange Commission's website,
which is located at www.sec.gov.
|
