Conduent sells Public Transit business to Modaxo for $164M; closing expected by end 2026

CONDUENT Inc

$164M purchase price; $10M one-year holdback and $12M special holdback for customer milestones.
Expected closing before end 2026 subject to regulatory approvals and customary conditions.
Sale includes Transit Fare Management and Fleet Management; Conduent retains Tolling business.
CEO says deal advances strategy to simplify portfolio and strengthen balance sheet.
Modaxo is a global transportation technology firm focused on moving people.

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