Reynolds and Reynolds is exploring a leveraged buyout of the company, a deal that could fetch around $5 billion, Reuters reported Monday, citing several unidentified sources.

The Kettering-based provider of business management software for auto dealers has hired technology-focused investment bank Qatalyst Partners to manage the process and is in talks with a few major private equity firms about a leveraged buyout, Reuters reported.

Deutsche Bank is also helping Reynolds and Reynolds with a potential sale and has offered seller financing to potential buyers, the sources added.

The company employs about 1,300 locally and more than 4,000 worldwide.

Reynolds spokesman Tom Schwartz late Monday declined to comment on what he called “rumors in the marketplace.”

The company has over $500 million in annual earnings before interest, tax, depreciation and amortization (EBITDA) and could be valued at around 10 times EBITDA, two of the sources told Reuters.

The sale process involves the largest private equity investors in the technology space, including KKR & Co LP , the sources said. The auction is early in the second round with management meetings scheduled to take place over the next few weeks, the sources said.

All sources asked not to be identified because the process is not public. Representatives for Reynolds and Reynolds and Deutsche Bank declined to comment. KKR and Qatalyst Partners did not immediately respond to requests for comment.