Combined company is a global force with expanded market reach, broader
solution offerings and additional client value
TORONTO, June 3, 2011 /CNW/ - OnX Enterprise Solutions is pleased to
announce that it has signed a definitive agreement to acquire the
Technology Solutions Group from Agilysys Inc., a leading provider of
innovative, enterprise-class IT solutions. The $474 million-revenue
Technology Solutions Group (TSG) business was purchased for $64 million
by OnX. OnX Enterprise Solutions, an industry-defining designer and
operator of mission-critical computing environments, is based in
Toronto, Canada, with offices in the United States and Europe.
"The combination of OnX and TSG will create North America's leading IT
solutions provider focused solely on providing mission-critical,
multi-vendor data centre solutions to medium and large enterprises,"
says Sheldon Pollack, co-founder and Director of OnX Enterprise
Solutions. "The combined organization will have annual revenues in
excess of $700 million and will be ideally positioned to serve clients
with requirements on both sides of the border."
The increased scale will allow OnX to better serve its global clients
across their complete range of IT needs: Hardware, Software, Server,
Networking, Consulting, Hosting, Cloud and Digital/Application
"OnX clearly recognizes the intrinsic value of TSG. The combination
provides a great opportunity for TSG to accelerate its transformation
into a multi-vendor, client-focused solutions provider," remarked James
Dennedy, President and CEO of Agilysys.
"We look forward to welcoming TSG's employees, partners and clients to
the OnX family. Our two businesses are highly complementary, with a
similar business strategy, shared vision and a culture focused on
exceptional client value," notes OnX President and CEO, Ed Vos. He
continues, "This is a tremendously exciting time for OnX as we enhance
our ability to add value to the world's leading technology vendors in
order to better serve our mutual customers."
The transaction is subject to approval by Agilysys shareholders and is
expected to close in the Company's fiscal 2012 second quarter, which
ends September 30, 2011. The merged company will operate under the OnX
In connection with the proposed transaction, Agilysys Inc. ("Agilysys")
will file a proxy statement with the Securities and Exchange Commission
(SEC). INVESTORS ARE URGED TO READ THE PROXY STATEMENT WHEN IT BECOMES
AVAILABLE BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION ABOUT THE
PROPOSED TRANSACTION AND AGILYSYS. You will be able to obtain the proxy
statement, as well as other filings containing information about
Agilysys, free of charge, at the website maintained by the SEC at www.sec.gov. Copies of the proxy statement and other filings made by Agilysys with
the SEC can also be obtained, free of charge, by directing a request to
Agilysys Inc., 28925 Fountain Parkway, Solon, Ohio, 44139, Attention:
Participants in the Solicitation
Agilysys and its directors and officers may be deemed to be participants
in the solicitation of proxies from Agilysys shareholders with respect
to the special meeting of shareholders that will be held to consider
the proposed transaction. Information about Agilysys directors and
executive officers and their ownership of the company's common stock is
set forth in the proxy statement for the Agilysys Annual Meeting of
shareholders, which was filed with the SEC on June 25, 2010.
Shareholders may obtain additional information regarding the interests
of Agilysys and its directors and executive officers in the proposed
transaction, which may be different than those of Agilysys shareholders
generally, by reading the proxy statement and other relevant documents
regarding the proposed transaction, when filed with the SEC.
About OnX Enterprise Solutions
OnX Enterprise Solutions is a Business and Technology Solutions
Provider, serving our clients for over 25 years. OnX designs, builds
and operates mission-critical environments and Federated Cloud
solutions to help clients achieve their business objectives, optimize
cost efficiencies and build shareholder value. OnX is recognized as one
of the 50 Best Managed Companies for 3 consecutive years.
About Agilysys, Inc.
Agilysys is a leading developer and marketer of proprietary enterprise
software, services and solutions to the hospitality and retail
industries. Agilysys 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 consumer's experience. Agilysys serves
casinos, resorts, hotels, food service venues, stadiums, cruise lines,
grocery stores, convenience stores, and general and specialty retail
businesses, and partners. Headquartered in Cleveland, Ohio, Agilysys
operates extensively throughout North America, with additional sales
and support offices in the United Kingdom, Singapore and Hong Kong. For
more information, visit www.agilysys.com.
SOURCE OnX Enterprise Solutions Ltd.
For further information:
OnX Enterprise Solutions