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Reynolds Completes Agreement to Sell Incadea Operations

April 20, 2007

Dayton, Ohio – Reynolds and Reynolds announced that it has sold its Incadea operations and assets to a new company led by former Incadea founder and CEO Peter Wenger. The new company, named Incadea GmbH., will continue to develop and support the Incadea dealership management system (DMS) platform, its partner networks, and customer base.

Reynolds acquired the Incadea business in October 2003 in an effort to establish a foothold in international markets. Since then, Reynolds and Reynolds merged with Universal Computer Systems, which already had well established markets and dealership products in the U.K. and in Europe. With the sale of Incadea, Reynolds now is able to focus strategically on continuing to enhance its current, established DMS platforms and businesses in the U.K. and Europe. Further, the sale of Incadea does not affect Reynolds-Europe, which includes products and services marketed to dealerships under the DCS brand, nor does it affect Kalamazoo-Reynolds and the POWER DMS platform in the U.K. and Europe.

“Between Reynolds-Europe and Kalamazoo, we are well established in these markets with a strong customer base and strong DMS platform offerings,” said Dan Agan, executive vice president at Reynolds and Reynolds. “We enjoy a rich heritage in our businesses and look forward to continuing our tradition of innovation and customer service to dealers and car manufacturers in Europe and the U.K.

“At the same time, we are pleased to be able to sell Incadea to Peter and his team. Although it was a lengthy process, we believe this is the best outcome for Incadea and its customers, as well as for Reynolds. Peter knows the product from the ground up, having been involved in Incadea from the beginning. He and his team also are very familiar with Incadea partners, customers, and markets. This transaction enables Reynolds to focus on its established strengths in Europe and the U.K. and enables Incadea to continue to pursue its product and market development with its customers.”

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