Reynolds Completes Agreement to Sell Incadea Operations;
Company Previously had Announced Intention to Sell Incadea
Sale does not impact other Reynolds European or UK businesses
DAYTON, OHIO – April 20, 2007 – Reynolds and
Reynolds announced today 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
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.
“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.”