7/103 sources · 3 publishersUpdated Oct 8, 18:52 UTC
Conduent completes $164 million divestiture of transit operations
Conduent has finalized the sale of its Public Transit Business to Modaxo for a $164 million base price, with standard closing adjustments. The business included transit-fare and fleet-management operations in several international markets. Conduent said the transaction advances its portfolio simplification, and it expects its planned Tolling sale to Quarterhill to close before the end of 2026.
Why it matters
The completed divestiture advances Conduent's stated plan to concentrate on its core operations. If the proposed Tolling transaction closes as expected, Conduent will no longer operate its Transportation segment.
Key facts
- 1Conduent completed the disposal of its Public Transit Business to Modaxo at a $164 million base valuation, with customary adjustments. investing.com
- 2Conduent announced the agreement on May 21, 2026. investing.com
- 3The sold unit contained Transit Fare Management and Fleet Management Solutions operations across North America, Europe, Australia, the Middle East and Latin America. investing.com
- 4Conduent expects the planned sale of its Tolling business to Quarterhill to close before the end of 2026. investing.com
- 5After the Tolling deal is completed, Conduent said it will operate through its Commercial and Government segments. investing.com
Summary written by AlphAI from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.