M&A Deal Summary

Modaxo Acquires Conduent - Curbside Management and Public Safety Businesses

On December 28, 2023, Modaxo acquired safety/security company Conduent - Curbside Management and Public Safety Businesses from Conduent

Acquisition Highlights
  • This is Modaxo’s 1st transaction in the Safety/Security sector.
  • This is Modaxo’s 2nd transaction in the United States.
  • This is Modaxo’s 1st transaction in New Jersey.

M&A Deal Summary

Date 2023-12-28
Target Conduent - Curbside Management and Public Safety Businesses
Sector Safety/Security
Buyer(s) Modaxo
Sellers(s) Conduent
Deal Type Divestiture

Target

Conduent - Curbside Management and Public Safety Businesses

Florham Park, New Jersey, United States
Conduent's Curbside Management and Public Safety Businesses provides parking management systems to the public sector, while their Public Safety business provides traffic management solutions such as automated photo enforcement for speed and red-light violations processing to its government clients. Conduent's Curbside Management and Public Safety Businesses is based in Florham Park, New Jersey.

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Buyer(S) 1

Buyer

Modaxo

Mississauga, Ontario, Canada

Category Company
Founded 2010
Sector Information Technology
DESCRIPTION

Modaxo is a global technology organization passionate about moving the world’s people. Working both together and independently, its collection of businesses is committed to delivering software and technology solutions that help connect people with the places they need to go for work, family, and everyday life. Modaxo was formed in 2010 and is based in Mississauga, Ontario.


DEAL STATS #
Overall 5 of 6
Sector (Safety/Security) 1 of 1
Type (Divestiture) 3 of 3
State (New Jersey) 1 of 1
Country (United States) 2 of 2
Year (2023) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-29 Fara

Trondheim, Norway

Fara is a bus travel saas company that provides ticketing solutions including smart card and electronic ticketing, as well as account-based next-generation ticketing (NGT). Fara was founded in 2005 and is based in Trondheim, Norway.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-20 Cammax

Whitwood, United Kingdom

Cammax is a UK provider of self-service Ticket Vending Machines (TVMs), Parking Payment machines, and associated services. The company's innovative payment systems serve some of the UK's largest public transport authorities, parking operators and local Councils. Its products and services simplify the use of public transport and car parks, improving operator levels of customer service, while enabling end users to quickly and easily select and pay for their products. Cammax is based in Whitwood, United Kingdom.

Buy -

Seller(S) 1

SELLER

Conduent

Florham Park, New Jersey, United States

Category Company
Founded 2016
Sector Business Services
Employees55,000
Revenue 3.7B USD (2023)
DESCRIPTION

Conduent is a provider of diversified business process services. Conduent offers capabilities in transaction processing, automation, analytics and constituent experience. The Company was spun-off from Xerox in 2017. Conduent was incorporated in 2016 and is based in Florham Park, New Jersey.


DEAL STATS #
Overall 9 of 10
Sector (Safety/Security) 1 of 1
Type (Divestiture) 9 of 10
State (New Jersey) 5 of 6
Country (United States) 9 of 10
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-04 Midas Health Analytics Solutions

Florham Park, New Jersey, United States

Midas Health Analytics Solutions integrates care management data, workflow, and reporting to provide insights and solutions for healthcare data analytics. It leverages a robust data warehouse with over 100 million claims and 30,000+ indicators as well as comparative data from approximately 800 hospitals. Through its clinical and analytics transformation software solutions, Midas offers strategic guidance, tactical plans, and care management interventions to help healthcare customers improve health outcomes for patients.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-03 Conduent - Casualty Claims Solutions

Florham Park, New Jersey, United States

Conduent's Casualty Claims Solutions consists of Conduent’s workers’ compensation and auto casualty bill review solutions and services, including processing medical bills and clinical services, and its portfolio of Strataware bill review software products. Conduent's Casualty Claims Solutions is based in Florham Park, New Jersey.

Sell $240M