Transaction Expected to Close Before the End of 2026

Conduent Continues to Fortify Its Balance Sheet

Conduent Retains Ownership of Tolling Business Segment

Conduent Incorporated (NASDAQ:CNDT), a global technology‑driven business solutions and services provider, today announced that it has entered into a definitive agreement to sell its Public Transit business, an operating unit of Conduent Transportation, to Modaxo, a global technology organization focused on moving the world's people. The Public Transit business consists of Transit Fare Management and Fleet Management Solutions businesses.

The sale has a purchase price of $164 million. The companies expect the transaction to close before the end of 2026, subject to customary conditions and regulatory approvals.