Agilysys acquired Innovativ Systems Design, Inc. for approximately $108.6 million (initial), plus contingent earn-out, a transaction completed in July 2007, structured as all cash plus earn-out.
Innovativ Systems Design, Inc. operates in IT solutions & storage (since divested), is based in Edison, New Jersey, United States, had revenue of about approximately $260 million. Agilysys completed its acquisition of Innovativ Systems Design, an Edison, New Jersey integrator and value-added reseller and the largest U.S. commercial reseller of Sun Microsystems servers and storage products, with roughly $260 million in annual revenue. The deal established a significant Sun relationship and a strong presence in financial services and telecommunications, further diversifying Agilysys's supplier, revenue and customer base within the IT-solutions business it later divested.
Established a new, significant Sun-Agilysys relationship and continued Agilysys's growth as a leading provider of IT solutions to corporate and public-sector customers.
Largest U.S. commercial Sun reseller with financial-services and telecom depth. Diversified supplier mix and opened new markets. Technology solutions business (later divested)
The addition of Innovativ establishes a new and significant relationship between Sun and Agilysys and represents an important step in continuing Agilysys' growth as one of the leading providers of IT solutions to corporate and public-sector customers.Arthur Rhein, Chairman, President & CEO, Agilysys
Advisory firms were not disclosed for this transaction.