Constellation Software to Buy Curbside Management, Public Safety Units of Conduent
29 December 2023 - 1:37AM
Dow Jones News
By Adriano Marchese
Constellation Software has agreed to acquire the curbside
management and public safety businesses from digital business
solutions and services company Conduent for an undisclosed sum.
The Canadian diversified software company said the acquisition
will be made through its people transportation division operating
as Modaxo.
Constellation said that the curbside management business will
add parking management systems to the public sector while the
public safety business provides traffic management solutions such
as automated photo enforcement for traffic violations processing to
its government clients.
For Conduent, Chief Executive Cliff Skelton said that the
divestiture is part of its continued efforts to streamline the
company's portfolio around its core capabilities.
Skelton added that the proceeds will be used primarily to reduce
debt.
The transaction is expected to close in the first quarter of
next year.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
December 28, 2023 09:22 ET (14:22 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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