DivestmentAug 10, 2026, 08:08 AM
Conduent Divests Public Transit & Tolling Businesses for $248M
AI Summary
Conduent announced the divestment of its Public Transit business to Modaxo for $164 million and its Tolling business to Quarterhill Inc. for $70 million cash plus a $14 million equity stake. These transactions represent a strategic exit from the Transportation segment. For Q2 2026, the company reported a net loss of $116 million on revenue of $531 million, compared to a net loss of $40 million on revenue of $603 million in Q2 2025. The loss from discontinued operations significantly contributed to the overall net loss.
Key Highlights
- Conduent to sell Public Transit business to Modaxo for $164M cash.
- Conduent to sell Tolling business to Quarterhill Inc. for $70M cash and $14M equity.
- Q2 2026 revenue decreased to $531M from $603M year-over-year.
- Q2 2026 net loss widened to $116M from $40M year-over-year.
- Basic net loss per share was $(0.76) in Q2 2026, compared to $(0.26) in Q2 2025.
- Loss from discontinued operations was $47M in Q2 2026.
- Commercial segment revenue declined to $316M from $365M year-over-year.
- Government segment revenue declined to $215M from $238M year-over-year.
Price Impact
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