<img src="https://ml.globenewswire.com/Resource/Download/5c85c0c5-a69c-42a8-a67d-98843dfe0386?size=2" nborder="0" align="left" hspace="5" vspace="5" title="Modaxo-Logo_CMYK[1].jpg" alt="Modaxo"/>TORONTO, May 21, 2026 (GLOBE NEWSWIRE) -- Modaxo Inc. (“Modaxo”), a global technology organization focused on moving the world’s people, today announced that it has signed a definitive agreement to acquire the Public Transit Business, consisting of Transit Fare Management and Fleet Management Solutions businesses, from Conduent Incorporated. Completion of the acquisition remains subject to closing conditions. Conduent’s Transit Fare Management business offers a comprehensive portfolio of solutions serving transit agencies. Its fare collection solutions help transit agencies boost revenue, reduce fare evasion, and cut operational costs, while offering user-friendly, equitable access to communities. Its Fleet Management Solutions enhance transit reliability with technology that encourages public transit use for faster, safer travel. About Modaxo Modaxo is a global technology organization passionate about moving the world’s people. Working both together and independently, our collective 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. Learn more at <a href="https://www.globenewswire.com/Tracker?data=aq1jn37QqEHpfOduZFBpBRUUR1yRRTohaZFTPqIIHvZlrRthtqARQfKSZMl_D7TBLPhQWdDfn3VxjoppLrtUtA==" rel="nofollow" target="_blank" title="Modaxo.com">Modaxo.com</a>. About Conduent Conduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum – creating valuable outcomes for its clients and the millions of people who count on them. The Company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 48,000 associates, process expertise and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways including disbursing approximately $80 billion in government payments annually, enabling approximately 2.0 billion customer service interactions annually, empowering millions of employees through HR services every year and processing over 14 million tolling transactions every day. Learn more at <a href="https://www.globenewswire.com/Tracker?data=KuFsaCaqhrvx8eWGArTw1U6gVaTV-fjBPH7GFjfoGg8sn4BuSQsSSuMLwykWZC6MXksHW7-f7Jk07xC-sM7KgibLBUi6ZOE4Fo-7DXDACcY=" rel="nofollow" target="_blank" title="">www.conduent.com</a>. For further information: <a href="https://www.globenewswire.com/Tracker?data=a_-aL2Yz6BHyOZ6AXuPSfZ9GNSCFEL87CPYAaqATXRMsxzbUkNzkkwpVe2_SBxI-saBFGPTNhLl4bk8jZZhvKp87jpU7O-m_CCPOw2591x0=" rel="nofollow" target="_blank" title="paul.fox@modaxo.com">paul.fox@modaxo.com</a> Cell: +44 7345490231 <img alt="" src='https://ml.globenewswire.com/media/YzIyNzI4MzQtZGQ2Mi00Njg3LWE0OTUtMDk3NjU0YWMwOWQ2LTEyMTg0OTQtMjAyNi0wNS0yMS1lbg==/tiny/Modaxo.png' referrerpolicy='no-referrer-when-downgrade' />

GlobeNewswire Inc.

Modaxo Enters into Agreement to Acquire the Public Transit Business from Conduent

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