Markham, Ont.-based Book4Time has been acquired by Alpharetta, Ga.-based Agilysys for $150 million USD ($204 million CAD), the companies announced Tuesday.
Founded nearly 20 years ago by Roger Sholanki, Book4Time is a software-as-a-service (SaaS) company that provides revenue and spa management for the hospitality and wellness industries.
The acquisition will increase the portfolio of digital products and services Agilysys offers customers globally.
Book4Time manages guest experiences at spas, hotels, resorts, casinos, golf and private member clubs in more than 100 countries. It counts major hotel chains among its clients, including Hilton, Marriott International, Hyatt, and Four Seasons, according to its website.
Sholanki said in a statement that Book4Time is “excited about the opportunity to join forces” with the Agilysys team.
“The technology innovation strengths of Agilysys and the broad range of state-of-the-art solutions in their portfolio, including membership and golf, exponentially elevates the value we can deliver to clients,” he said.
The acquisition will increase the portfolio of digital products and services Agilysys offers customers globally, according to the press release.
Agilysys CEO Ramesh Srinivasan said the two companies share some major customers, including Marriott and Hilton, but that in general, there is “minimal overlap” of properties in their customer bases. He added the deal would “introduce additional software solutions to a wider range of existing customers.”
United States-based Agilysys was founded in 1963 and trades on the Nasdaq exchange. It operates in the hospitality industry and also serves the healthcare and higher education sectors, as well as airports, senior living facilities, and stadiums. It offers digital solutions for point-of-sale, inventory and procurement management, loyalty programs, workforce management, and property management.
The company operates across North America, Europe, the Middle East, Asia-Pacific, and India. It counts cruise liner Royal Caribbean, Mandarin Oriental Hotel Group, and British premier football club Everton as its customers, according to its website.
Feature image courtesy Unsplash.
