Conduent agrees to sell off-street parking business

By Emily Bader
Florham Park | Apr 26, 2018 at 11:18 am

Florham Park-based Conduent Inc. has agreed to sell its off-street parking business and its U.S. airport parking business to Andera Partners, an investment firm in France, it announced Wednesday.

The businesses, which include Conduent’s Multipark System in France and the U.K., generate approximately $43 million in revenue.

“Our off-street parking business primarily provides highly customized products and solutions for local clients. As part of our repositioning as a technology platform-based digital interactions company, we are selling this business so we can focus on our large enterprise and government customers,” said David Amoriell, president, Conduent. “This business decision is consistent with our goal to remain focused on our core business and primary transportation offerings.”

The deal is expected to close in the next few months. Financial terms were not disclosed.

Emily Bader | ebader@roi-nj.com | emilybader