Acquisition Will Strengthen Agilysys’ Presence in the Resort and Hotel Management Systems (PMS) Space
Agilysys, Inc. (NASDAQ: AGYS), a leading provider of next-generation SaaS software solutions, today announced that it has entered into a definitive agreement to acquire ResortSuite, a Canadian management solutions provider fully integrated real estate focused on the multi-amenity complex and resort market. This acquisition creates the opportunity to bring next-generation SaaS solutions to ResortSuite customers who have been well served by a trusted partner for over twenty years. With unparalleled experience and commitment to the hospitality industry and innovation-driven track records and expertise, this combination will enable revenue synergies and the delivery of world-class integrated hotel property management and contactless capabilities to the global hospitality industry.
“Only a few technology providers have the experience and expertise to deliver robust, comprehensive, end-to-end integrated property management solutions that can help manage complex resort environments and enable enjoyable guest experiences. This acquisition combines two such vendors to create the most compelling hotel technology unit serving the resort market. Frank Pitsikalis (CEO and Founder of ResortSuite) and his talented team have built a company with a deep understanding of hospitality and a long history of providing world-class services to some of the best-known resorts and spas in several regions, including including the United States, United Kingdom and Canada,” said Ramesh Srinivasan, President and CEO of Agilysys. “Thanks to our recent successful product modernization efforts, ResortSuite customers will benefit from many modern technology options, including migration to the cloud.”
Frank Pitsikalis, CEO and Founder of ResortSuite, added, “Agilysys and ResortSuite share an unwavering commitment to the hospitality market, multiple mutual customers, integrated software solutions, a passion for world-class customer service and a strong desire of continuous innovation that constantly improves and enriches customer experience. We are excited to join and contribute to the new chapter of Agilysys 2.0 modern technology driven growth and bring an expanded product base and SaaS options to our long-time customers. ResortSuite and Agilysys customers now have access to products based on next-generation cloud-native technology and the ability to offer a fully integrated contactless solution to their customers while empowering all departments through a common unified profile. throughout the complex. 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 in early January 2022 for approximately $25 million in an all-cash transaction subject to customary closing conditions. Further details of the transaction will be discussed during Agilysys’ upcoming Third Quarter Fiscal 2022 Earnings Conference Call in late January 2022.
CIBC Capital Markets Inc. acted as exclusive financial advisor to ResortSuite.
About Resort Suite
ResortSuite provides a fully integrated suite of hospitality solutions for the full-service and resort market, such as property management, spa, golf, sales and catering, retail, catering, ski and concierge apps to manage properties with multiple amenities. ResortSuite operates from its headquarters in Toronto, Ontario, and serves multiple geographic regions, including Canada, the United States, the United Kingdom, and the Caribbean.
Agilysys has been a leader in hospitality software for over 40 years, providing innovative, on-premises customer-centric SaaS technology solutions for gaming, hotels, resorts and cruises, hotel catering management business, restaurants, universities, healthcare and sports. and entertainment. Agilysys offers the industry’s most comprehensive software solutions, including point-of-sale (POS), property management (PMS), inventory and procurement, payments and related applications, to manage the entire journey customer. Agilysys is known for its hospitality leadership, broad product offerings and customer-centric service. Over the past few years, Agilysys has made significant R&D investments and successfully modernized nearly all of its long-standing trusted software solutions. Some of the world’s largest hospitality companies use Agilysys solutions to improve guest loyalty, drive revenue growth and increase operational efficiency. Agilysys operates across the Americas, Europe, Middle East, Africa, Asia-Pacific and India with headquarters located in Alpharetta, GA.
For information visit Agilysys.com.
The logos, product and company names mentioned are the property of their respective owners.
© 2022 Hotel News Resource