13D Filing: Discovery Group I, LLC and Agilysys Inc (AGYS)

Agilysys Inc (NASDAQ:AGYS): Michael Murphy And Daniel Donoghue’s Discovery Group filed an amended 13D.

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You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Discovery Equity Partners 0 0 0 0.0%
Discovery Group I 0 0 0 0.0%

Page 1 of 7 – SEC Filing

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE
13D

(Rule 13d-101)

 

INFORMATION
TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO §
240.13d-1(a) AND AMENDMENTS THERETO FILED

PURSUANT
TO § 240.13d-2(a)

 

UNDER THE SECURITIES EXCHANGE
ACT OF 1934

(Amendment No. 9)*

Agilysys, Inc.
(Name of Issuer)
Common Shares, without par value
(Title of Class of Securities)
00847J105
(CUSIP Number)
Michael R. Murphy
Discovery Group I, LLC
300 South Wacker Drive
Suite 600
Chicago, Illinois 60606
Telephone Number: (312) 265-9600
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
October 5, 2017
(Date of Event which Requires Filing of this Statement)

If the filing person has previously
filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule
because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. ¨

Note: Schedules filed in paper
format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties
to whom copies are to be sent.

*The remainder of this
cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder
of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of
1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions
of the Act (however, see the Notes).

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Page 2 of 7 – SEC Filing

CUSIP No. 00847J105
1. Names of Reporting Persons.
Discovery Equity Partners, L.P.
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ¨
(b) ¨
3. SEC Use Only
4. Source of Funds (See Instructions)
WC
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ¨
6. Citizenship or Place of Organization
Illinois
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With
7. Sole Voting Power
None.
8. Shared Voting Power
0
9. Sole Dispositive Power
None.
10. Shared Dispositive Power
0
11. Aggregate Amount Beneficially Owned by Each Reporting Person
0
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ¨
13. Percent of Class Represented by Amount in Row (11)
0.0%
14. Type of Reporting Person (See Instructions)
PN

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Page 3 of 7 – SEC Filing

CUSIP No. 00847J105
1. Names of Reporting Persons.
Discovery Group I, LLC
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) ¨
(b) ¨
3. SEC Use Only
4. Source of Funds (See Instructions)
AF
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ¨
6. Citizenship or Place of Organization
Delaware
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With
7. Sole Voting Power
None.
8. Shared Voting Power
0
9. Sole Dispositive Power
None.
10. Shared Dispositive Power
0
11. Aggregate Amount Beneficially Owned by Each Reporting Person
0
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ¨
13. Percent of Class Represented by Amount in Row (11)
0.0%
14. Type of Reporting Person (See Instructions)
IA

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Page 4 of 7 – SEC Filing

Item 1. Security and Issuer
This Amendment No. 9 to Schedule 13D (“Amendment No. 9”) relates to the Common Shares, without par value (the “Common Shares”), of Agilysys, Inc., an Ohio corporation (the “Company”), which has its principal executive offices at 425 Walnut Street, Suite 1800, Cincinnati, OH 45202. This Amendment No. 9 amends and supplements, as set forth below, the information contained in items 1, 3, 5 and 6 of the Schedule 13D filed by the Reporting Persons with respect to the Company on October 6, 2014, as amended by Amendment No. 1 thereto filed by the Reporting Persons with respect to the Company on October 17, 2014, Amendment No. 2 thereto filed by the Reporting Persons with respect to the Company on January 15, 2015, Amendment No. 3 thereto filed by the Reporting Persons with respect to the Company on  March 13, 2015, Amendment No. 4 thereto filed by the Reporting Persons with respect to the Company on  May 8, 2015, Amendment No. 5 thereto filed by the Reporting Persons with respect to the Company on  January 9, 2017, Amendment No. 6 thereto filed by the Reporting Persons with respect to the Company on  March 20, 2017, Amendment No. 7 thereto filed by the Reporting Persons with respect to the Company on  May 18, 2017 and Amendment No. 8 thereto filed by the Reporting Persons with respect to the Company on September 26, 2017 (as so amended, the “Schedule 13D”).  All capitalized terms used herein but not defined herein have the meanings set forth in the Schedule 13D.  Except as amended by this Amendment No. 9, all information contained in the Schedule 13D is, after reasonable inquiry and to the best of the Reporting Persons’ knowledge and belief, complete and correct as of the date of this Amendment No. 9.
Item 3. Source and Amount of Funds or Other Consideration

Item 3 of the Schedule 13D is hereby amended
to read in its entirety as follows:

As of October 5, 2017, the Reporting Persons
no longer beneficially own any Common Shares.

Item 5. Interest in Securities of the Issuer

Item 5 of the Schedule 13D is hereby amended
to read in its entirety as follows:

The information concerning percentages
of ownership set forth below is based on 23,391,662 Common Shares reported outstanding
as of August 1, 2017 in the Company’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2017.

Discovery Equity Partners beneficially
owns 0 Common Shares as of October 5, 2017, which represents 0.0% of the outstanding Common Shares.

Discovery Group beneficially owns
0 Common Shares as of October 5, 2017, which represents 0.0% of the outstanding Common Shares.

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Page 5 of 7 – SEC Filing

Discovery
Group is the investment manager of Discovery Equity Partners.   Discovery Group exercises ultimate voting and dispositive
power of the securities held by Discovery Equity Partners. As a consequence, Discovery Group may be deemed to share beneficial
ownership of all of the Common Shares owned by Discovery Equity Partners. Voting and disposition decisions at Discovery Group with
respect to the investment of such securities are made by a five-person investment committee (the “Committee”)
which makes such investment decisions by majority vote. No member of the Committee may act individually to vote or sell Common
Shares held by Discovery Equity Partners, nor does any such member have a veto right concerning the vote or sale of any such common
stock. Accordingly, no individual member of the Committee is deemed to beneficially own, and each individual member of the Committee
expressly disclaims beneficial ownership of, within the meaning of Rule 13d-3, any Common Shares held by Discovery Equity Partners
solely by virtue of the fact that he or she is a member of the Committee.

The transactions in Common Shares effected
by the Reporting Persons during the past 60 days are set out in Exhibit 1 hereto.

The Reporting Persons ceased to be beneficial
owners of more than five percent of the Common Shares on October 4, 2017.

No person other than Discovery
Equity Partners
is known to any Reporting Person to have the right to receive or the power to direct the receipt of dividends
from, or the proceeds from the sale of, any of the Common Shares reported herein.

Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

Item 6 of the Schedule 13D is hereby amended
to read in its entirety as follows:

There
are no contracts, arrangements, understandings or relationships (legal or otherwise) between or among any of the Reporting Persons
and any other person with respect to any securities of the Company other than the governing documents of Discovery Group and Discovery
Equity Partners, the margin loan facilities referred to under Item 3 above, the Joint Filing Agreements of the Reporting Persons
with respect to the Schedule 13D that were included as exhibits thereto, the Joint Filing Agreement of the Reporting Persons with
respect to this Amendment No. 9 included as Exhibit 2 to this Amendment No. 9, and the Power of Attorney granted by
Michael R. Murphy with respect to reports under Section 13 of the Securities Exchange Act of 1934, as amended, which Power of
Attorney is included as Exhibit 3 to this Amendment No. 9. 

Item 7. Material to Be Filed as Exhibits
Exhibit 1: List of transactions effected by the Reporting Persons in the Company’s Common Shares since those reported in the Schedule 13D filed by the Reporting Persons on September 26, 2017.
Exhibit 2: Joint Filing Agreement dated as of October 6, 2017, by and between Discovery Equity Partners and Discovery Group.
Exhibit 3: Power of Attorney of Michael R. Murphy, dated as of April 28, 2008.

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Page 6 of 7 – SEC Filing

Signature

After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete and correct.

October 6,
2017
Date
DISCOVERY EQUITY PARTNERS, L.P.
By: Michael R. Murphy*
Signature
Michael R. Murphy, Manager
Name/Title
DISCOVERY GROUP I, LLC
By: Michael R. Murphy*
Signature
Michael R. Murphy, Manager
Name/Title
*By: /s/ Mark Buckley
Mark Buckley
Attorney-in-Fact for Michael R. Murphy

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Page 7 of 7 – SEC Filing

 

Exhibit Index

Exhibit 1 List of transactions effected by the Reporting Persons in the Company’s Common Shares since those reported in the Schedule 13D filed by the Reporting Persons on September 26, 2017.
Exhibit 2

Joint Filing Agreement dated as
of October 6, 2017, by and between Discovery
Equity Partners
and Discovery Group.

Exhibit 3 Power of Attorney of Michael R. Murphy, dated as of April 28, 2008.

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