Agilysys Scoops Up Eatec Corp.
Agilysys, Inc., provider of IT and hospitality software solutions, announces that it has acquired Eatec Corporation, a privately held developer and marketer of inventory and procurement software with U.S. headquarters in Emeryville, Calif.
Eatec's software, EatecNetX provides customers with the data and information necessary to increase sales, reduce product costs, improve back-office productivity and increase profitability. Eatec customers include well-known restaurants, hotels, stadiums and entertainment venues in North America and around the world as well as many public service institutions.
EatecNetX's core functions include purchasing, inventory, recipe, forecasting, production and sales analysis. Additionally, the solution offers catering, restaurant, concessions, manufacturing, retail/merchandising and airline catering modules in one integrated solution.
In addition to being a stand-alone software application, EatecNetX will be interfaced with Agilysys' point-of-sale offerings to create a complete end-to-end solution for customers in the foodservice industry.
The purchase price of $23.2 million, net of cash, will be funded with cash on hand. Eatec has revenues of approximately $8 million and EBITDA margins in excess of 20 percent.
Eatec's software, EatecNetX provides customers with the data and information necessary to increase sales, reduce product costs, improve back-office productivity and increase profitability. Eatec customers include well-known restaurants, hotels, stadiums and entertainment venues in North America and around the world as well as many public service institutions.
EatecNetX's core functions include purchasing, inventory, recipe, forecasting, production and sales analysis. Additionally, the solution offers catering, restaurant, concessions, manufacturing, retail/merchandising and airline catering modules in one integrated solution.
In addition to being a stand-alone software application, EatecNetX will be interfaced with Agilysys' point-of-sale offerings to create a complete end-to-end solution for customers in the foodservice industry.
The purchase price of $23.2 million, net of cash, will be funded with cash on hand. Eatec has revenues of approximately $8 million and EBITDA margins in excess of 20 percent.