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.
