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Slide #42. Verteda Limited — Majority of the Agilysys United Kingdom Business
Majority of the Agilysys United Kingdom Business (NASDAQ:AGYS)
Agilysys, Inc. (NASDAQ:AGYS), a leading provider of innovative hospitality software solutions and services, today announced the sale of its United Kingdom business entity to U.K.-based Verteda Limited. The former Agilysys Europe management team, headed by Mr. 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, a point-of-sale system; Agilysys Eatec, an inventory & procurement system; 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.
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Strong Buy (4.00 out of 4)