Agilysys Acquires Eatec Corporation

  • Agilysys (PMS and other solutions)
  • 02.20.08
Agilysys, Inc. (Nasdaq: AGYS), a leading provider of innovative IT and hospitalitysoftware solutions, today announced it has acquired Eatec Corporation, aprivately held developer and marketer of inventory and procurement softwarewith U.S. headquarters in Emeryville, Calif.

Eatec's software, EatecNetX, is a recognized leading, open architecture- based, inventory and procurement management system. It provides customers with the data and information necessary to increase sales, reduce product costs, improve back-office productivity and increase profitability. Eatec customers include well-known restaurants, hotels,stadiums and entertainment venues in North America and around the world as well as many public service institutions.

EatecNetX's core functions include purchasing, inventory, recipe,forecasting, production and sales analysis. Additionally, the solution offers catering, restaurant, concessions, manufacturing, retail/merchandising and airline catering modules in one integratedsolution.
 
"This acquisition further enhances our position as a leading inventory and procurement solution provider to the hospitality and foodservice markets," said Arthur Rhein, chairman, president and chief executive officer of Agilysys. "Similar to our previous acquisitions of Visual One Systems and InfoGenesis, the Eatec acquisition complements and expands our offerings, allowing us to better serve our customers."
 
In addition to being a stand-alone software application, EatecNetX will be interfaced with Agilysys' point-of-sale offerings to create a complete end-to- end solution for customers in the foodservice industry.
 
Agilysys hospitality solution offerings are among the most comprehensive in the market, with solutions to cover the hospitalityindustry's information technology needs. Agilysys hospitality solutions include property management, inventory procurement, point-of-sale, golf management, club management, condo accounting, spa, sales and catering, dining reservations, business analytics and document management.
 
The purchase price of $23.2 million, net of cash, will be funded with cash on hand. Eatec has revenues of approximately $8 million and EBITDA margins in excess of 20%.



Related Articles
want to read more articles like this?

want to read more articles like this?

Sign up to receive our twice-a-month Watercooler and Siegel Sez Newsletters and never miss another article or news story.