Conduent completes sale of its CVO business to Alinda Capital Partners

Conduent Inc. has completed the sale of its commercial vehicle operations business to investment funds managed by Alinda Capital Partners, it announced Thursday.

The Florham Park-based digital platform and services provider announced the sale on May 18.

The sale, Conduent said, is part of its plan to divest approximately $1 billion in revenue associated with non-core assets and serve large enterprise customers.

Citigroup Global Markets Inc. served as financial advisor and Cravath Swaine & Moore LLP served as legal counsel to Conduent.

Financial terms of the sale were not disclosed.