Agilysys To Acquire Resort & Hotel Management Software Provider ResortSuite
17 December 2021 - 09:15AM
Business Wire
Acquisition Will Strengthen Agilysys’ Presence
In The Resorts and Hotel Property Management Systems (PMS)
Space
Agilysys, Inc. (NASDAQ: AGYS), a leading provider of next
generation SaaS software solutions, today announced it has entered
into a definitive agreement to acquire ResortSuite, a Canada-based
fully integrated property management solution provider focused on
the complex multi-amenity and resort market. This acquisition
creates the opportunity to bring next generation SaaS solutions to
ResortSuite customers who have been served well by a trusted
partner for more than twenty years. With unparalleled experience
and commitment to the hospitality industry and innovation driven
roadmaps and expertise, this combination will enable revenue
synergies and delivery of world class integrated hotel property
management and contactless capabilities to the global hospitality
industry.
”Only a handful of technology providers have the experience and
expertise to offer robust, comprehensive and end-to-end integrated
property management solutions which can help run complex resort
environments and enable enjoyable guest experiences. This
acquisition combines two such providers creating the most
compelling hospitality technology unit serving the resort market.
Frank Pitsikalis (CEO & Founder of ResortSuite) and his
talented team have built a company with deep understanding of
hospitality and a long history of providing world class service to
some of the most well-known resorts and spas across several
regions, including the U.S., U.K. and Canada,” said Ramesh
Srinivasan, President & CEO of Agilysys. “Thanks to our
successful recent product modernization efforts, ResortSuite
customers will enjoy numerous modern technology options including
migrating to the cloud.”
Frank Pitsikalis, CEO & Founder, ResortSuite added,
“Agilysys and ResortSuite share an unwavering commitment to the
hospitality market, several shared customers, integrated software
solutions, a passion for world class customer service and a strong
desire for continued innovation which constantly improves and
enriches guest experience. We are excited to join and contribute to
the new chapter of modern technology driven growth of Agilysys 2.0
and bring an expanded product base and SaaS options to our
longstanding customers. Both ResortSuite and Agilysys customers now
have access to next generation cloud-native technology-based
products and the opportunity to offer a fully integrated
contactless solution for their guests while empowering all
departments through a unified common profile across the entire
resort. We share a common work ethic and culture with Agilysys.
Together we have a solid growth path ahead of us.”
The transaction is expected to close the beginning of January
2022 for approximately 25 million USD in an all-cash deal subject
to customary closing conditions. Further details of the transaction
will be discussed during the upcoming Agilysys fiscal 2022 third
quarter earnings call towards the end of January 2022.
CIBC Capital Markets Inc. acted as exclusive financial advisor
to ResortSuite.
About ResortSuite
ResortSuite provides a fully integrated suite of hospitality
solutions for the full service and resort market such as property
management, spa, golf, sales & catering, retail, food and
beverage, ski and concierge applications to manage properties with
multiple amenities. ResortSuite operates out of headquarters in
Toronto, Ontario and services multiple geographic areas, including
Canada, the United States, the United Kingdom and the
Caribbean.
About Agilysys
Agilysys has been a leader in hospitality software for more than
40 years, delivering innovative cloud-native SaaS and on-premise
guest-centric technology solutions for gaming, hotels, resorts and
cruise, corporate foodservice management, restaurants,
universities, healthcare, and sports and entertainment. Agilysys
offers the most comprehensive software solutions in the industry,
including point-of-sale (POS), property management (PMS), inventory
and procurement, payments, and related applications, to manage the
entire guest journey. Agilysys is known for its leadership in
hospitality, its broad product offerings and its customer-centric
service. During recent years, Agilysys has made major investments
in R&D and has successfully modernized virtually all their
longstanding trusted software solutions. Some of the largest
hospitality companies around the world use Agilysys solutions to
help improve guest loyalty, drive revenue growth and increase
operational efficiencies. Agilysys operates across the Americas,
Europe, the Middle East, Africa, Asia-Pacific, and India with
headquarters located in Alpharetta, GA.
For information visit Agilysys.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20211216006164/en/
Media: Jen Reeves, Agilysys, Inc., 770-810-6007,
jennifer.reeves@agilysys.com Investors: Jessica Hennessy,
Agilysys, Inc., 770-810-6116, jessica.hennessy@agilysys.com
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