Conduent completes $140M sale of transit business to Modaxo

Conduent completed the sale of its public transit and fare collection business (Conduent Transport Solutions and certain non-U.S. subsidiaries) to Modaxo for $164 million in purchase price, with $140 million in cash received at closing on October 1, 2026. The company will use $125 million in net proceeds to repay its revolving credit facility, reducing leverage and improving the balance sheet for the slimmed-down business.

Conduent sold off a business division for $140 million in cash and plans to use most of it to pay down debt, which should help its financial position going forward.