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.
1. Portfolio changes
The divestment advances Conduent’s plan to simplify its portfolio and refocus on core operations. The business includes transit fare management and fleet management solutions, with operations across North America and Europe. Conduent has also agreed to sell its Tolling business to Quarterhill, a deal expected to close before the end of 2026; completion would mark its exit from the Transportation segment.
