Verra Mobility inks 7-year tolling deal with Avis Budget Group

Verra Mobility Corporation announced it has reached an agreement with Avis Budget Group on the key commercial terms for a new seven-year tolling and violations services contract. While the parties are still finalizing operational terms, the new agreement is expected to be materially less favorable financially for Verra Mobility compared to their prior contract. This redefined commercial relationship will also give Avis Budget Group the option to selectively perform certain activities internally, extending a nearly two-decade partnership.