CONDUENT Inc (CNDT): M&A transaction — Conduent completes sale of Curbside Management and Public Safety Solutions to Modaxo for $230M

CONDUENT Inc

Total purchase price $230M; cash received $174M, plus $50M note receivable (discounted to $47M), $50M other receivables payable Q4 2024.
Sale completed April 30, 2024; aligns with strategy to focus on core capabilities and drive growth.
Proceeds alongside BenefitWallet transfer used to repay $130M and $334M in debt, respectively.
Unaudited pro forma shows net income of $52M for 2023 vs historical loss of $296M after removal.
Sale does not affect Road Usage Charging and Transit Solutions businesses.

item 2.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

CONDUENT Inc completed a disposition involving Modaxo Traffic Management USA Inc. for $230 million (closed 2024-04-30).

Action: disposition
Counterparty: Modaxo Traffic Management USA Inc.
Consideration: $230 million
Closing: 2024-04-30

Exact text from the filing

a definitive agreement with Modaxo Traffic Management USA Inc. (the "Buyer") to sell the Company's Curbside Management and Public Safety Solutions businesses (the "Sale") for $230 million (plus the assumption of certain indebtedness) (the "Purchase Price"), subject to customary purchase price adjustments. On April 30, 2024, the Sale was completed and the Company

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31 m&a transactions filed in the last 30 days. Browse all m&a transactions →

CONDUENT Inc filing history →

Source: SEC EDGAR

accession 0001677703-24-000075

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