Reynolds & Reynolds to Sell Consulting Unit

Reynolds & Reynolds Co., an information manager for auto dealers, agreed to sell its business-forms printing and customer-service consulting unit to buyout firm Carlyle Group Inc. for $360 million in cash. Reynolds & Reynolds said in April that it planned to sell or spin off the Information Solutions Group as part of its effort to focus on the automotive industry and on Internet systems for those clients. Washington-based Carlyle Group plans to rename ISG, which had revenue of $730 million last year, but will maintain its headquarters near Dayton, Ohio. ISG President Rodney Hedeen, who will be chief executive of the company, said “no significant changes in the work force” are expected. Reynolds & Reynolds shares rose 38 cents to $19.75 on the NYSE. They have fallen 15% over the year.

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