BOCA RATON, Fla. – Jan. 25, 2007 – Agilysys, Inc. (NASDAQ: AGYS), a leading provider of innovative IT solutions, today said it has completed the previously announced acquisition of Visual One Systems, Corp., a privately-held company with U.S. headquarters in Frederick, Md., and Europe headquarters in Leatherhead, Surrey, U.K.
The acquisition provides Agilysys expertise around the development, marketing and sale of Microsoft® Windows®-based software for the hospitality industry, including additional applications in property management, condominium, golf course, spa, point-of-sale, and sales and catering management.
“The addition of Visual One is keeping with our strategy to acquire companies with differentiated value, that will enhance our product and services offerings, broaden our customer base and expand our markets,” said Arthur Rhein, chairman, president and chief executive officer of Agilysys.
Agilysys recently announced plans to sell its computer systems distribution business for $485 million in cash and to use proceeds from that sale to accelerate its growth as a solution provider, both organically and through acquisition.
Focusing solely on its IT solutions business, Agilysys is a leading provider of:
- Enterprise storage and server hardware, software and service solutions to corporations and the public sector;
- Retail solutions to the supermarket, chain drug and general retail segments of the retail industry;
- Fully integrated solutions designed exclusively for the hotel, casino, resort, and conference center segments of the hospitality industry.
Visual One will be integrated into the company’s existing hospitality solutions business.
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.
About Agilysys, Inc.
Agilysys, Inc. (NASDAQ: AGYS) is a leading provider of innovative IT solutions to the corporate and public sectors, with special expertise in select vertical markets, including retail and hospitality. The company uses technology – including hardware, software and services – to help customers resolve their most complicated IT needs. The company possesses expertise in enterprise architecture and high availability, infrastructure optimization, storage and resource management, and business continuity; and provides industry-specific software, services and expertise to the retail and hospitality markets. Headquartered in Boca Raton, Fla., Agilysys operates extensively throughout North America, with additional sales offices in Europe and China. For more information, visit www.agilysys.com.
Analysts/Investor Contact:
Martin Ellis
Executive Vice President, Treasurer and Chief Financial Officer
Agilysys, Inc.
561-999-8780
martin.ellis@agilysys.com
Media Contact:
Julie Young
Director, Corporate Communications
Agilysys, Inc.
440-498-6736
julie.young@agilysys.com
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