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FINWIRES

Quarterhill to Buy Conduent Tolling Solutions Business

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Quarterhill (QTRH.TO) entered into a definitive asset purchase agreement to buy all assets of the tolling solutions business of Conduent Business Services, and certain of its affiliates in a cash and stock deal, it said in a statement on Tuesday.

The company and certain of its affiliates will acquire substantially all of the business' assets and assume certain liabilities for $70 million in cash, subject to customary adjustments, and Quarterhill common shares representing 7% of the company's issued and outstanding shares at closing. Quarterhill expects it and the business to have a combined backlog of about $2 billion upon closing of the deal.

The cash portion of the consideration is expected to be funded through debt. Closing of the deal is expected in the fourth quarter of 2026.

Shares of the company closed up about 3% to C$1.72 on Monday on the Toronto Stock Exchange.

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