Agilysys, Inc., a leading provider of innovative IT and hospitality software solutions, 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, is a recognized leading, open architecture-based, inventory and procurement management system. It provides customers with the data and information necessary to increase sales, reduce product costs, improve back-office productivity and increase profitability. 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%.
Tell Us What You Think!
You must be logged in to post a comment.