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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Constellation Software Inc | TSX:CSU | Toronto | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 93.47 | 2.64% | 3,638.01 | 3,613.76 | 3,639.30 | 3,639.30 | 3,539.96 | 3,544.56 | 16,140 | 21:12:04 |
From Nov 2023 to May 2024
By Adriano Marchese
Constellation Software has agreed to acquire the curbside management and public safety businesses from digital business solutions and services company Conduent for an undisclosed sum.
The Canadian diversified software company said the acquisition will be made through its people transportation division operating as Modaxo.
Constellation said that the curbside management business will add parking management systems to the public sector while the public safety business provides traffic management solutions such as automated photo enforcement for traffic violations processing to its government clients.
For Conduent, Chief Executive Cliff Skelton said that the divestiture is part of its continued efforts to streamline the company's portfolio around its core capabilities.
Skelton added that the proceeds will be used primarily to reduce debt.
The transaction is expected to close in the first quarter of next year.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
December 28, 2023 09:22 ET (14:22 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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