Conduent Incorporated today announced it has completed the sale of its off-street parking business, including the Conduent Multipark System in France and the U.K., as well as its U.S. airport parking business, to investment firm Andera Partners as previously announced April 25, 2018.
The sale is a part of the company’s previously announced plan to divest approximately $1 billion in revenue associated with non-core assets and to focus on serving large enterprise customers and scalable business relationships.
Bryan, Garnier & Co. served as exclusive financial advisor and Osborne Clark LLP served as legal counsel to Conduent.
Conduent is the world’s largest provider of diversified business process services with leading capabilities in transaction processing, automation and analytics. The company’s global workforce is dedicated to helping its large and diverse client base deliver quality services to the people they serve. These clients include 76 of the Fortune 100 companies and over 500 government entities.
Conduent’s differentiated offerings touch millions of lives every day, including two-thirds of all insured patients in the U.S. and nearly nine million people who travel through toll systems daily. Whether it’s digital payments, claims processing, benefit administration, automated tolling, customer care or distributed learning – Conduent manages and modernizes these interactions to create value for both its clients and their constituents. Learn more at www.conduent.com.