Agilysys acquires Infogenesis
by Andy Holtmann
Agilysys Acquires Infogenesis
Deal brings together two companies that were already working together technologically
Boca Raton-based Agilysys Inc. a provider of IT solutions and hospitality software solutions, announced it has entered a definitive agreement to acquire Santa Barbara, Calif.-based InfoGenesis for $90 million. InfoGenesis is a privately held software vendor and solution provider to the hospitality market that offers enterprise-class point-of-sale (POS) solutions that provide end users a secure and easy way to process customer transactions across multiple departments or locations, including comprehensive corporate and store reporting.
InfoGenesis has significant presence in casinos, hotels and resorts, cruise lines, stadiums and foodservice. The acquisition provides Agilysys a complementary offering that will extend its reach into new segments of the hospitality market, broaden its customer base and increase its software application offerings, company officials said.
“With some of the world’s leading properties as customers, the acquisition of InfoGenesis will further strengthen Agilysys’ market position in the hospitality industry,” said Arthur Rhein, chairman, president and chief executive officer of Agilysys. “The acquisition will also provide us a competitive advantage with enhanced levels of integration between property management, POS, and inventory and procurement systems, as well as our golf course and spa management applications. Over the years, we have worked closely with InfoGenesis at a number of mutual customer locations and together will market a powerful single-source solution that enables properties to increase guest loyalty and overall profitability.”
In the gaming industry, the two companies had reached collaborative agreements to work together with their technology solutions to hotel casinos. The $90 million will be raised with cash Agilysys said it has on hand, and the transaction was expected to close by late-June.