FLORHAM PARK, N.J., Aug. 13, 2018 – Conduent Incorporated (NYSE: CNDT) today announced it has completed the sale of its non-core consulting and actuarial segment of its Human Resource Services Business to global private equity investment firm H.I.G. Capital, as announced April 30, 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 focus on serving large enterprise customers and scalable business relationships.
Citigroup Global Markets Inc. served as exclusive financial advisor and Cravath Swaine & Moore LLP served as legal counsel to Conduent.
Conduent creates digital platforms and services for businesses and governments to manage millions of interactions every day for those they serve. We are leveraging the power of cloud, mobile and IoT, combined with technologies such as automation, cognitive and blockchain to elevate every constituent interaction, driving modern digital experiences that are more efficient, helpful and satisfying.
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 serves a majority of the Fortune 100 companies and more than 500 government entities. Learn more at www.conduent.com.