The transaction includes net debt of £10.8 million as of December 31.
The acquisition is to be implemented by means of a court approved process and requires the approval of DCS shareholders and court sanction in the UK. If approved, it is expected to become effective on July 27. DCS shareholders would receive 31.5 pence for each DCS share.
DCS is a European provider of software and services to the automotive retailing market. Its customers include approximately 4,500 dealers. DCS will become part of the Reynolds International organization, which serves dealers and OEM networks in 36 countries.
Following the acquisition, Reynolds would serve more than 15,000 dealers worldwide.