Shares of this MicroCap are Up in Morning Trade

By: Tomas Ronolski - AllPennyStocks.com News

Thursday, December 28, 2023

Delivering digital business solutions and services for the commercial, government, and transportation spectrum, this company leverages cloud computing, AI, ML and automation, and advanced analytics to deliver mission-critical solutions. And shares are up in morning trade on news of a definitive agreement to sell part of its portfolio.

Global technology business solutions provider Conduent Incorporated (Nasdaq: CNDT) announced in a press release today a definitive agreement to sell its Curbside Management Solutions and Public Safety Solutions businesses to Modaxo, a division of Constellation Software Inc. (TSX: CSU). Modaxo is a global portfolio company focused on advancing people transportation solutions and the transaction is expected to close in the first quarter of 2024, subject to the satisfaction of customary closing conditions and regulatory approvals.

The two businesses, which support approximately 130 government clients across the globe, operate largely independently from the rest of Conduent’s transportation portfolio. Curbside management provides parking enforcement systems and public safety provides automated photo enforcement processing, both for state and local municipalities.

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