Charlotte, NC; May 10, 2005 - DecisionPoint International (“DecisionPoint”), a boutique investment bank providing merger and acquisition services to middle-market services and technology clients, announced today that its client, The CTS Corporations (“CTS”), a leading professional services organization focused around storage solutions, has signed a definitive agreement to be acquired by Agilysys, Inc. (NASDAQ: AGYS). Agilysys is one of the foremost distributors and premier resellers of enterprise computer technology solutions.
“CTS is very pleased to be joining the Agilysys organization as it will provide us the scale and resources to offer our customers an even greater breadth and depth of enterprise solutions and technical capabilities,” said Keith Gordon, CEO of CTS.
“The acquisition of CTS initiates a relationship with EMC and immediately positions Agilysys as a leading provider of storage services,” said Art Rhein, Chairman, President and CEO of Agilysys.
The purchase price of $28 million, which includes $3 million in assumed debt, will be funded by cash. In addition, Agilysys will pay an earnout to CTS shareholders based on the acquired business achieving certain financial performance targets.
John Nash, Managing Partner at DecisionPoint, commented: “This acquisition benefits both parties, with CTS gaining access to a large sales force while expanding its array of solutions, and Agilysys extending its reach into professional services along with new markets.”
CTS is a leading professional services provider in the storage solutions arena, with the proven ability to deliver the highest quality infrastructure design, implementation, management and tuning services available in the industry. As a proven partner to many of the leading storage vendors, CTS provides a range of high-value proven professional service offerings such as short-term implementation engagements, long term “on site” residence expertise, “health check” assessment and tuning services, infrastructure optimization, backup & disaster recovery, and storage related design and architecture assistance. By addressing all aspects of the solution, from strategic planning through architectural design and implementation, CTS partners with clients to help them achieve their corporate goals. For more information, visit www.ctsinc.net.
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 www.agilysys.com.
DecisionPoint is a global leader in M&A advisory services for middle-market technology companies in the services, software, and communication sectors. For additional information on DecisionPoint, visit www.DecisionPointINT.com.
For further information, contact: Doug Ellis, Managing Partner; (704) 916-9070; DEllis@DecisionPointINT.com.