Reynolds and Reynolds, Universal Bought by Investment Group

Traverse City, Mich.—An investment group recently announced it is paying $2.8 billion to buy dealer management systems companies Reynolds and Reynolds Co. and Universal Computer Systems Inc.

The combined companies will be headquartered in Dayton, Ohio and will use the Reynolds and Reynolds name.

The buyers are an investment group led by Goldman Sachs Capital Partners, Vista Equity Partners and others. Financing will come from Deutsche Bank and Credit Suisse.