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CNDTBullishM&Anews

High materiality8/10

Conduent to Sell Tolling Unit for $70M, Obtains 7% Quarterhill Stake

Jun 30, 2026, 8:25 AM EDT1 sourcesAI-analyzed

Why it may matterVerify against the original reporting

The transactions reduce non-core exposure, improve liquidity and cash flow visibility, and add optional upside via Quarterhill ownership, supporting CNDT's valuation.

AI summary

What happened, with direct paths to the underlying reporting

Conduent announced a definitive agreement to sell its Tolling business to Quarterhill for $70 million in cash, with CNDT receiving a 7% stake in Quarterhill and related governance rights. The company previously disclosed a plan to sell its Public Transit unit, with closings expected by year-end 2026. Together, these actions simplify CNDT’s portfolio, strengthen its balance sheet, and boost sustainable free cash flow.

CNDT to sell Tolling unit to Quarterhill for $70M cash. CNDT will receive 7% stake.
Public Transit business sale announced in May; closing expected by end-2026.
Tolling sale simplifies CNDT portfolio and strengthens balance sheet.
Tolling business handles more than 14 million tolling transactions daily.
CNDT will gain 7% interest in Quarterhill with governance rights.

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