Agilysys, Inc. (NASDAQ: AGYS) said it has announced the sale of its United Kingdom business entity to U.K.-based Verteda Ltd. The former Agilysys Europe management team, headed by Adrian Burns, leads Verteda.
In connection with the sale, Agilysys and Verteda have entered into a multi-year distribution agreement, whereby Verteda will distribute Agilysys InfoGenesis POS, Agilysys Eatec, and the Agilysys Workforce Management Solution in EMEA, with exclusivity in the U.K. and in the stadium and arena vertical internationally. Agilysys will continue to manage all property management system (PMS) accounts as well as key global accounts in the EMEA market.
The sale and distribution agreement with Verteda reflects Agilysys´ strategic decision to address international markets primarily through a reseller strategy. This shift better positions Agilysys to increase the penetration of its software solutions in currently under-penetrated markets and optimize its returns on invested capital. Revenue generated from all international markets (inclusive of the EMEA market) in the nine-month period ended December 31, 2013, represented less than 10 percent of the company´s overall revenue.
Agilysys is a leading developer and marketer of proprietary enterprise software, services and solutions to the hospitality industry. The company specializes in market-leading point-of-sale, property management, inventory and procurement and mobile and wireless solutions that are designed to streamline operations, improve efficiency and enhance the guest experience. The company operates extensively throughout North America, Europe and Asia, with corporate services located in Alpharetta, GA, and offices in Singapore, Hong Kong and Malaysia. For more information, visit www.agilysys.com.