Conduent to sell its Public Transit business to Modaxo for $164M

Conduent (CNDT) has entered into a definitive agreement to sell its Public Transit business, an operating unit of Conduent Transportation, to Modaxo, a global technology organization. The Public Transit business consists of Transit Fare Management and Fleet Management Solutions businesses. The sale has a purchase price of $164M. The companies expect the transaction to close before the end of 2026. With global operations, the Public Transit business offers fare collection systems, fleet management systems, payment and revenue management platforms, and other hardware-enabled mobility systems. Conduent Transportation’s remaining Tolling business provides mission-critical technology that enables all-electronic tolling, roadside, and back-office processing, image review, violation enforcement and analytics. Meet Samuel – Your Personal Investing ProphetStart a conversation with TipRanks’ trusted, data-backed investment intelligence

Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>