Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
MAK CAPITAL ONE LLC
  2. Issuer Name and Ticker or Trading Symbol
AGILYSYS INC [AGYS]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
590 MADISON AVENUE, 9TH FLOOR, 
3. Date of Earliest Transaction (Month/Day/Year)
10/01/2010
(Street)

NEW YORK, NY 10022
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 10/01/2010   P   44,430 (1) A $ 6.6129 (2) 4,828,898 D (3) (4) (5)  
Common Stock 10/04/2010   P   45,122 (1) A $ 6.5866 (6) 4,874,020 D (3) (4) (5)  
Common Stock 10/05/2010   P   45,147 (1) A $ 6.8894 (7) 4,919,167 D (3) (4) (5)  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
MAK CAPITAL ONE LLC
590 MADISON AVENUE, 9TH FLOOR
NEW YORK, NY 10022
    X    
MAK Capital Fund LP
590 MADISON AVENUE, 9TH FLOOR
NEW YORK, NY 10022
    X    
Kaufman Michael A
590 MADISON AVENUE, 9TH FLOOR
NEW YORK, NY 10022
    X    
SUSSMAN S DONALD
6100 RED HOOK QUARTER, 18B
SUITES C, 1-6
ST. THOMAS, VI 00802
    X    
Cueva R. Andrew
C/O MAK CAPITAL FUND L.P
590 MADISON AVENUE, 9TH FLOOR
NEW YORK, NY 10022
  X   X    

Signatures

 /s/ Michael A. Kaufman, Managing Member of MAK Capital One LLC   10/05/2010
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) These purchases of the shares of common stock of Agilysys, Inc. (the "Shares") were effected pursuant to a Rule 10b5-1 trading plan adopted by MAK Capital Fund LP ("MAK Capital Fund") on August 12, 2010.
(2) The price reported in Column 4 is a weighted average price. These Shares were purchased on October 1, 2010 in multiple transactions at purchase prices ranging from $6.43 to $6.71, inclusive. The reporting person undertakes to provide to Agilysys, Inc. (the "Company"), any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of Shares purchased at each separate purchase price within the range set forth in this footnote.
(3) Reflects Share transactions by and Share holdings of MAK Capital Fund.
(4) MAK Capital One LLC ("MAK Capital One") acts as the investment manager of MAK Capital Fund and Paloma International L.P. ("Paloma") with respect to the Shares. Paloma, through its subsidiary, Sunrise Partners Limited Partnership, owns 1,772,286 Shares. Michael A. Kaufman is the managing member of MAK Capital One and the controlling person of MAK Capital Fund. S. Donald Sussman is the controlling person of Paloma.
(5) MAK Capital One and Mr. Kaufman may each be deemed to indirectly beneficially own the Shares held by MAK Capital Fund and Paloma. Mr. Sussman may be deemed to beneficially own the Shares held by Paloma. For purposes of this Form 4, MAK Capital One, Mr. Kaufman and Mr. Sussman each disclaims ownership of the Shares owned by MAK Capital Fund and Paloma, except to the extent of their pecuniary interest therein. R. Andrew Cueva, a director of the Company and a managing director of MAK Capital Fund, may be deemed to share beneficial ownership of the Shares held by MAK Capital Fund. Mr. Cueva disclaims beneficial ownership of such Shares except to the extent of his pecuniary interest therein.
(6) The price reported in Column 4 is a weighted average price. These Shares were purchased on October 4, 2010 in multiple transactions at purchase prices ranging from $6.45 to $6.74, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of Shares purchased at each separate purchase price within the range set forth in this footnote.
(7) The price reported in Column 4 is a weighted average price. These Shares were purchased on October 5, 2010 in multiple transactions at purchase prices ranging from $6.73 to $6.98, inclusive. The reporting person undertakes to provide to the Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of Shares purchased at each separate purchase price within the range set forth in this footnote.
 
Remarks:
Joint Filer Information is attached as Exhibit 99.

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