Conduent closes $164M Public Transit sale to Modaxo; $125M net proceeds to repay revolver

CONDUENT Inc

On Oct. 1, 2026, Conduent closed the sale of its Public Transit Business to Modaxo for a $164M base purchase price, receiving $140M cash at closing.
Buyer retained a $10M purchase-price holdback (up to one year), a $12M special holdback tied to former-customer target dates, and $2M other closing adjustments; $15M cash transferred to Buyer.
Net proceeds of $125M will repay the revolving credit facility; Conduent expects $3M transaction costs and $7M income taxes in Q4 2026; pro forma long-term debt drops to $572M from $697M.
Pro forma 2025 revenue is $2.671B versus $3.042B historical, removing $371M of Transit revenue; 2024 pro forma revenue is $3.015B versus $3.356B.
Sept. 30 amendment made Modaxo France sole buyer and deferred India assets to a later closing subject to Indian approval; Tolling sale to Quarterhill expected before end-2026.

This headline and bullets were generated automatically by deepseek-v4.1-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.