CONDUENT Inc
No SEC Form 4 filings for $CNDT in the last 30 days.
Conduent has agreed to sell its public transit and fare collection business to Modaxo for $164 million. The deal includes various holdbacks, such as a $10 million one-year holdback for NTA and indemnities, and a $12 million special holdback tied to customer milestones. This divestiture is expected to streamline Conduent's portfolio and sharpen its strategic focus.
Conduent Incorporated has entered into a definitive agreement to sell its Public Transit business, which includes Transit Fare Management and Fleet Management Solutions, to Modaxo for $164 million. This strategic move aims to simplify Conduent's portfolio, focus on core businesses, and strengthen its financial foundation. The transaction is expected to close before the end of 2026, subject to customary conditions and regulatory approvals, while Conduent retains its Tolling business segment.
A substantial data breach at Conduent has exposed sensitive personal and medical records belonging to over 25 million people, primarily impacting Medicaid recipients and major insurer customers in Texas and Oregon. The stolen data includes names, addresses, dates of birth, Social Security numbers, and medical/insurance information. Texas is at the forefront of investigations, with its Attorney General initiating probes and calling the incident potentially the largest breach in U.S. history, leading to multiple class-action lawsuits and ongoing state investigations.
