Conduent has reached an agreement to sell its tolling business to Quarterhill Inc. for $70 million, the company announced through Business Wire.
Quarterhill is a Canadian technology company. The acquisition would transfer Conduent's tolling operations to Quarterhill's portfolio of transportation technology businesses.
Conduent provides business process services across government and commercial sectors. Its tolling business has handled back-end operations for highway toll systems. The $70 million sale price reflects the standalone value placed on that unit as Conduent reshapes its business portfolio.
The deal had not yet closed as of the announcement date. Further details about the timeline for closing were not disclosed in the announcement.
