Modaxo to acquire Conduent’s public transit business for US$164M

On May 21, 2026, Modaxo Inc. (“Modaxo”) announced that it had signed a definitive agreement to acquire the public transit business of Conduent Incorporated (“Conduent”) for US$164 million. The transaction includes Conduent’s Transit Fare Management and Fleet Management Solutions businesses and is subject to closing conditions and regulatory approvals.

Modaxo is a global technology organization focused on transportation software and technology solutions, headquartered in Mississauga, Ontario.

Conduent, based in Florham Park, New Jersey, delivers digital business solutions and services across commercial, government, and transportation sectors.

McCarthy Tétrault LLP is advising Modaxo as Canadian counsel, with a team led by Heidi Gordon, Victoria de Luna, and Vivian Sy that includes Chelsea Pham (MT>Ventures), Amy Fong, Jeff Sun (Intellectual Property), Francis L. Racine, Patrick Pengelly, Andrew Weizman (Labour and Employment), Annie Gagnon-Larocque, Anthony Salandra, Xin Yue Zhang, Rita Iafrate (Real Property and Planning), Michael Scherman, Mohammed M’Hiri (Technology), Eugen Miscoi, Benjamin Rivard (Business Law), Alexandra Cocks, Maxime-Arnaud Keable (Litigation & Dispute Resolution), Michael Caldecott, Vivian Ng (Competition/Antitrust & Foreign Investment), Gajan Sathananthan, Oksana Migitko (International Trade & Investments).