Constellation Software-backed Modaxo completed the acquisition of curbside management and public safety solutions businesses from Conduent.

Constellation Software-backed Modaxo, a software development company, completed the acquisition of curbside management and public safety solutions businesses from Conduent, a business services provider company. Financial terms were not disclosed. “This divestiture demonstrates continued progress in streamlining our portfolio to drive increased focus on our core capabilities and enable synergistic growth to create shareholder and client value. The proceeds from this transaction and that of our previously announced BenefitWallet transaction, will be used principally to reduce debt. We will continue to be open-minded regarding the use of capital associated with future portfolio rationalization efforts. We are committed to ensuring a seamless transition for our associates and clients while continuing to drive innovation in our road usage charging and transit businesses to enable streamlined, high-volume mobility services,” Cliff Skelton, Conduent President and CEO.