---
schema_version: "secwatch.filing_event.v1"
accession: "0001677703-26-000123"
form_type: "8-K"
ticker: "CNDT"
cik: "0001677703"
company_name: "CONDUENT Inc"
filed_at: "2026-10-06T18:25:59+00:00"
generated_at: "2026-10-12T16:25:36.169082+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001677703-26-000123
- form_type: 8-K
- ticker: CNDT
- cik: 0001677703
- company_name: CONDUENT Inc
- filed_at: 2026-10-06T18:25:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 2.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1677703/000167770326000123/0001677703-26-000123-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1677703/000167770326000123/cndt-20260930.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001677703-26-000123
- JSON: https://secwatch.observer/filing/0001677703-26-000123.json
- Plain text: https://secwatch.observer/filing/0001677703-26-000123.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.