Conduent completes sale of public transit business to Modaxo for $164 million
CNDT•Conduent completed the sale of its public transit business to Modaxo for a base purchase price of $164 million, subject to customary adjustments.
1. Sale completed
The divested business includes transit fare management and fleet management operations across North America, Europe, Australia, the Middle East and Latin America. Conduent said the sale supports its plan to simplify its portfolio and focus on its core commercial and government businesses.
2. Tolling sale pending
Conduent also has an agreed sale of its tolling business to Quarterhill, which is expected to close before the end of 2026.
