Agilysys headquarters returning to Cleveland Plus
Agilysys Inc., which moved its headquarters from Mayfield Heights to Boca Raton, Fla., two years ago, is coming back to suburban Cleveland. Company executives will work from an existing office in Solon.
In June, Agilysys hired JPMorgan to advise it on strategic alternatives, including possible sale of all or part of the company.
That process is now finished, and the board has concluded that the best course is to "remain as an independent company, realign its cost and overhead structure and drive value creation."
The office consolidation was one cost-saving move. The company wouldn't comment on whether job cuts could be another. "We're not talking specifics yet," spokesman Shawn Turner said.
The company now employs about 1,350 people in the United States, Canada, China and the United Kingdom. About 200 people work at its largest office on Fountain Parkway in Solon.
Last year Agilysys sold its distribution business, KeyLink Systems Group in Solon, to Arrow Electronics Inc., saying the sale would allow it to focus solely on growing its IT solutions business.
The company sees growth potential in three core areas - programs for the hospitality, retail and technology industries.
"We're not looking to change up our strategy," Turner said. "We're confident we're on the right track."
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