- Move Will Support Agilysys Strategy and Growth
- Relocation to be Completed Within Nine Months
CLEVELAND, Jan. 11 - Agilysys, Inc. (Nasdaq: AGYS), a leading provider of enterprise computer technology solutions, announced today that its Board of Directors has approved a relocation of its corporate executive offices from Cleveland, Ohio, to Boca Raton, Florida. Arthur Rhein, chairman, president and chief executive officer of Agilysys, along with the four executive vice presidents who report directly to Rhein, will complete their move to the new location by September 2006. Agilysys will continue to be incorporated in Ohio, but will exit its Mayfield Heights facility, which will result in a net savings of corporate overhead expense.
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"Boca Raton is ideally located in the rapidly growing technology corridor of southeastern Florida. Flowing from the company's organic and acquisition- driven growth over the past two-and-a-half years, and after careful consideration, our Board concurred that relocating our executive offices to this area would offer better access to our markets and to executive talent in the technology industry," Rhein said. "The move also reflects the company's 'virtual' work environment, driven by the customers we serve, and the increasing amount of domestic and international travel required of our senior executives."
Rhein added, "We continue to value our Ohio talent base very highly, and we do not anticipate this move having any significant economic or employment impact on the Cleveland area or any of our other locations. Our North American operating offices will continue to be located in Cleveland, Atlanta, Las Vegas, Greenville (South Carolina), and Canada. Internationally, we recently entered the China and Hong Kong markets."
Since Rhein was named CEO in 2002, the company has undergone a major strategic transformation to become a leading provider of enterprise computer technology solutions. The transformation began with the divestiture of its electronic components business in 2003, followed by four acquisitions to enhance its retail, hospitality, storage solution and international offerings.
About Agilysys, Inc.
Agilysys is one of the foremost distributors and premier resellers of enterprise computer technology solutions. It has a proven track record of delivering complex server and storage hardware, software and services to resellers, large and medium-sized corporate customers, as well as public- sector clients across a diverse set of industries. In addition, the company provides customer-centric software applications and services focused on the retail and hospitality markets. Headquartered in Mayfield Heights, Ohio, Agilysys has sales offices throughout the United States and Canada. For more information, visit http://www.agilysys.com .
