Reynolds and Reynolds acquire Computer Fiscal Service (CFS) - 17th February 2004
 
Reynolds & Reynolds announce today the purchase of Computer Fiscal Services (CFS) from their long term founder, Tony McClelland. CFS is a leading supplier of Vehicle, Truck and Agricultural Dealership Management Systems in Australia today.

CFS, based in Sydney, have over 250 franchise points spread throughout the country. Reynolds & Reynolds, with 1850 franchise points, will now have a presence in more than 2,100 franchise points operating in the Asia Pacific region in thirteen countries.

This strategic acquisition cements Reynolds share of the Toyota franchise market, with 8 of the top 10 Toyota dealers in Australia (based on sales volume) using the Reynolds & Reynolds or CFS dealership management solution.

All existing employees are to be employed with Reynolds, taking the total staff in the Asia Pacific Region to more than 270 employees.


Steve Kloss, CEO, Reynolds & Reynolds, is excited and proud of the acquisition. “Purchasing a long established, quality company that has served its clients with professionalism and delivered quality products, will ensure we continue to provide the best solutions in today’s market. This strategic acquisition adds a new solution to the stable of products offered by Reynolds and it is our clear intention to offer existing CFS clients leading edge facilities such as DealerLink, CLERA for Parts, and our full eCommerce range of products.”


Tony McClelland said “This is the exciting next generation for our company. I saw Reynolds & Reynolds as the best long term strategic partner to service the ongoing needs of our customers, and to provide them a host of unique features that only Reynolds can offer to the market. One of the more exciting aspects of the sale is the decision to allocate additional resource to the CFS Easy Windows products to add to their appeal in the market.”


Matthew Murray from Reynolds & Reynolds will head up the operation as Chief Executive Officer of CFS. His direct dealership experience and exposure to the various car companies will add enormous long term value to the CFS business.

Steve Kloss said “We look forward to welcoming the enormous skill sets of the CFS staff to the Reynolds company, and also offering some of the existing solutions from the CFS product range to the ERA client base, such as registration systems, REVS Checking, etc.”
Reynolds & Reynolds have a commitment to its clients to provide solutions and services that will increase dealership’s profits. Their staff work towards transforming Automotive Retailing through the solutions, consultants and services it offers and look forward to moving ahead with new opportunities in the future.
 
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MEDIA ENQUIRIES:
Steve Kloss
Chief Executive Officer
Reynolds & Reynolds
Ph: (03) 9535 2222
Fax: (03) 9535 2274