Conduent Inc. entered into a definitive agreement to sell its Public Transit business, an operating unit of Conduent Transportation, to Modaxo.

The Public Transit business comprises Transit Fare Management and Fleet Management Solutions.

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.

“This transaction advances our strategy to simplify the portfolio, sharpen focus on our core businesses, and strengthen our financial foundation. Consistent with the disciplined execution outlined in Q1, it further positions Conduent to deliver sustainable, long-term value for our shareholders, clients, and employees,” said Harsha V. Agadi, Conduent’s president and CEO. “Modaxo’s technology focus makes it a strong strategic fit for the Public Transit business and those it serves. We remain committed to delivering outstanding quality and performance for our Transportation clients as we prepare for closing and ensure a seamless transition for clients and employees.”

About the Transaction

Conduent Transportation’s Public Transit business has long provided fare collection systems, fleet management systems, payment and revenue management platforms, and other hardware‑enabled mobility systems for major agencies, and joining Modaxo would add those capabilities to a portfolio that already includes transit software, passenger information, and mobility solutions companies.

For transit agencies, the deal could mean greater integration between fare payment platforms, operations software, and rider-facing technologies across Modaxo-owned businesses.

The acquisition also reflects continued consolidation within the mobility technology sector, as companies seek to offer broader end-to-end transit and transportation platforms spanning fare collection, scheduling, dispatch, analytics, and passenger communications.

Conduent officials said the agreement does not include its Tolling business line.

Additional details of the transaction are outlined in Conduent’s 8-K filed with the U.S. Securities and Exchange Commission (SEC).