When was Agilysys founded? When was its IPO?
Agilysys traces its roots to two companies formed in the mid-20th Century: Standard Radio, formed in 1932, and Pioneer, founded in 1946. These two companies merged as an Ohio corporation in 1963 to create Pioneer-Standard Electronics, Inc., with its principal office in Cleveland. The company conducted an initial public offering in 1971 and commenced trading on the Nasdaq under the ticker symbol PIOS. While originally focused on electronic components distribution, the Company embarked on a major strategic transformation in 2003.
In September, shareholders approved the renaming of Pioneer-Standard Electronics to Agilysys, Inc., which today trades under the ticker symbol AGYS. Agilysys divested its lower-margin distribution businesses, paid off all debt, returned significant capital to shareholders and invested in faster-growing software and service markets. Several years and nearly a dozen strategic acquisitions later, Agilysys emerged as a leading provider of innovative IT solutions to corporate and public-sector customers, with special expertise in select vertical markets, including retail and hospitality.
In August 2011, Agilysys divested its Technology Solutions Group and sharpened its focus on the two remaining businesses.
In July 2013, Agilysys divested its Retail Solutions Group and further sharpened its focus on the remaining hospitality-focused business.
Today, Agilysys is a leading technology company that provides innovative point-of-sale, property management, inventory and procurement, workforce management, analytics, document management and mobile and wireless solutions and services to the hospitality industry. The company's solutions and services allow property managers to better connect, interact and transact with their customers by streamlining operations, improving efficiency, increasing guest recruitment and wallet share, and enhancing the guest experience.
Agilysys serves four major market sectors: Gaming, both corporate and tribal; Hotels, Resorts and Cruise; Foodservice Management; and Restaurants, Universities, Stadia and Healthcare. Agilysys operates throughout North America, Europe and Asia, with corporate services located in Alpharetta, GA.
