Conduent Stock Rises on Public Transit Unit Sale to Modaxo

Conduent Incorporated shares experienced a significant jump in Friday premarket trading. The increase followed the company's announcement of a definitive agreement to sell its Public Transit business. This transaction involves a sale to Modaxo for $164 million. Conduent's stock surged 15% in premarket trading. Its shares had already jumped over 12% in extended trading on Thursday. The Public Transit business being sold includes the Transit Fare Management and Fleet Management Solutions businesses. These businesses are part of Conduent Transportation. Conduent will sell the Public Transit business to Modaxo for $164 million, subject to adjustments. The companies anticipate the deal will close before the end of 2026. This transaction has global operations. The company aims to simplify its operations by retaining its Tolling segment. One source notes that $164 million represents roughly 70% of something. This article is intended for informational purposes only. It does not constitute investment advice.