Agilysys Signs Definitive Agreement to Acquire Visual One Systems

  • Agilysys (PMS and other solutions)
  • 12.21.06
Agilysys, Inc., 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.

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 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.



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