AGILYSYS, A HOSPITALITY software company, recently acquired Book4Time Inc., a spa management SaaS provider, in an all-cash transaction valued at approximately $150 million. The Alpharetta-based Agilysys is led by CEO Ramesh Srinivasan, while the Ontario-based Book4Time is led by founder and CEO Roger Sholanki.
Acquiring Book4Time expands Agilysys' opportunity to increase its global solutions-per-customer penetration, the companies said in a statement.
“In addition to sharing our commitment to equipping hospitality staff with world-class technology that helps them better serve their guests, the exceptionally talented and dedicated Book4Time team shares our skills in working with some of the most renowned and discerning properties in the world,” said Srinivasan. “We look forward to accelerating hospitality technology innovation together as we combine our product strengths, fully tap our mutual passion for serving customers and make our value proposition to the hospitality industry even more compelling.”
Book4Time, a Serent Capital portfolio company, provides revenue and spa management solutions for the hospitality and wellness industries. Founded in 2004, the company manages guest experiences at spas, international hotels, resorts, casinos, golf courses and private member clubs in over 100 countries.
“Over the past 20 years, we have worked hand-in-hand with the world’s leading hospitality brands in over 100 countries,” said Sholanki. “We are excited about the opportunity to join forces with the impressive Agilysys team and our shared vision to deliver High Return Hospitality. 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.”
Hospitality properties use Book4Time for appointment booking, contactless guest intake, revenue and yield management and other features, the statement said. The company expanded its global footprint through partnerships with major hotel and resort brands, integrations with over 60 technology providers—including PMS and POS systems—and its remote implementation, training and support services.
Founded in 1963, Agilysys trades on the Nasdaq exchange and serves the hospitality, healthcare, higher education, airport, senior living and stadium sectors, the statement said. The company offers digital solutions for point-of-sale, inventory and procurement management, loyalty programs, workforce management and property management. It operates in North America, Europe, the Middle East, Asia-Pacific and India, and counts Royal Caribbean, Mandarin Oriental Hotel Group, and Everton FC among its customers.
“While we share some industry-leading customers, such as Marriott International and Hilton, there is minimal overlap of properties in our respective customer bases, presenting opportunities to introduce additional software solutions to a wider range of existing customers,” Srinivasan said.
In May, Marriott International selected Agilysys' InfoGenesis point-of-sale platform for its hotels across the U.S. and Canada to manage guest and staff operations in food and beverage, retail, and activity centers.
