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Reynolds Sells Operations, Assets of Incadea

May 17, 2007

Dayton, Ohio — Reynolds and Reynolds has sold Incadea, one of its foreign subsidiaries. The operations and assets of Incadea have been sold to a company led by Incadea’s founder and chief executive officer Peter Wenger.

According to officials, the new company will be called Incadea GmbH with the intention of continuing to support and develop the Incadea dealership management system and customer base.

Reynolds acquired Incadea in October 2003 to establish themselves in the international market.

The sale of Incadea does not affect Reynolds-Europe, according to company officials. They also mentioned that the transaction does not affect Kalamazoo-Reynolds or the Power DMS platform in Europe.

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