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Agilysys Announces Convertible Preferred Investment by MAK Capital

Paul, Weiss advised a special transaction committee of independent directors of Agilysys, Inc. in connection with an investment in the company by MAK Capital One, LLC, an affiliate of the company’s board chairman.

Under the terms of the deal, MAK Capital will purchase $35 million of convertible preferred stock in Agilysys carrying a 5.25% dividend. At the close of the transaction, between its existing investment in Agilysys and the newly issued convertible preferred stock, MAK Capital will own approximately 16.28% of Agilysys’ outstanding shares. Agilysys is a leader in hospitality software, offering the most comprehensive software solutions in the industry, including point-of-sale, property management, inventory and procurement, payment and related applications; MAK Capital is a leading investment firm.

The Paul, Weiss team included corporate partners Jeffrey Marell, Ross Fieldston, counsel Yuni Sobel and tax partner Robert Holo.

May 11, 2020

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