Conduent to Sell its Commercial Vehicle Operations Business

Conduent Incorporated announced it has entered into a binding agreement to sell its commercial vehicle operations (CVO) business to investment funds managed by Alinda Capital Partners.

This divestiture, which generated approximately $70 million in revenue in 2017, is part of the previously announced Conduent plan to divest $250 to $500 million in revenue associated with non-core assets.

“As we continue on our path focused on our core business to drive profitable growth and divest non-core assets, we made the decision to sell our CVO business,” said Dave Amoriell, president, Conduent. “This sale will enable us to increase focus on advancing our technology platforms that will best serve our large enterprise customers and scalable business relationships.”

The transaction, which is subject to certain regulatory approval and customary closing conditions, is expected to close during the second quarter of 2018. Until then, this business will continue to be part of the company.