secwatch.observer — SEC 8-K summary
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Issuer:     CONDUENT Inc (CNDT)
CIK:        0001677703
Form:       8-K
Filed at:   2023-12-28T23:59:59+00:00
Accession:  0001677703-23-000072
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Conduent sells Curbside Management & Public Safety units to Modaxo for ~$260M
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- Enterprise value ~$260M, representing ~8x trailing 12-month adjusted EBITDA of the sold businesses.
- Buyer is Modaxo, a division of Constellation Software Inc. (TSX: CSU); close expected Q1 2024, subject to regulatory approvals.
- Proceeds will be used principally to reduce debt; follows previously announced BenefitWallet divestiture.
- Businesses serve ~130 government clients and operate largely independently from Conduent's remaining transportation portfolio.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1677703/000167770323000072/0001677703-23-000072-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1677703/000167770323000072/cndt-20231228.htm
  HTML page:      https://secwatch.observer/filing/0001677703-23-000072

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer