Conduent Completes Sale of Its Public Transit Business to Modaxo
Business Wire•01/10/2026•09:54 ET
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Key Highlights
- ➤Public Transit business sale completed for $164 million base purchase price
- ➤Conduent (CNDT) advances portfolio simplification and focus on core businesses
- ➤Tolling business sale to Quarterhill (QTRH) remains pending, expected to close before end of 2026
- ➤Conduent (CNDT) plans to exit its Transportation segment after Tolling transaction closes
Expert Statements
Harsha V. Agadi, President and Chief Executive Officer of Conduent
“This divestiture is an important step in our strategy to simplify our portfolio, sharpen our focus on our core businesses and strengthen our financial foundation,”
Harsha V. Agadi, President and Chief Executive Officer of Conduent
“With the completion of this transaction, and our planned exit from the Transportation segment upon the anticipated closing of the Tolling transaction, we are creating a more focused portfolio positioned to deliver sustainable, long-term value for our shareholders, clients and employees.”
Harsha V. Agadi, President and Chief Executive Officer of Conduent
“We wish our employees in the Public Transit Business all the best as they begin this next chapter with Modaxo, and we thank them for their contributions and dedication to Conduent.”
Conduent Completes Sale of Its Public Transit Business to Modaxo
$164 million transaction advances Conduent’s strategy to simplify its portfolio and sharpen its focus
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