Business
Quarterhill to Acquire Conduent Tolling Solutions Business
Quarterhill to Acquire Conduent Tolling Solutions
About this update from Quarterhill Inc
TORONTO, June 30, 2026 /PRNewswire/ - Quarterhill Inc. ("Quarterhill" or the "Company") (TSX: QTRH) (OTCQX: QTRHF), a leading technology innovator providing next-generation, AI-driven Intelligent Transportation System ("ITS") solutions, today announced that it has entered into a definitive asset purchase agreement (the "Agreement") to acquire substantially all of the assets (the "Transaction") of the tolling solutions business of Conduent Business Services, LLC and certain of its affiliates (collectively, "Conduent", and Conduent's tolling business, the "Business"). The Transaction is expected to approximately triple Quarterhill's tolling revenue upon closing and create a leading tolling platform with greater scale, long-term backlog visibility and enhanced capabilities across electronic tolling, back-office operations and roadside systems. All dollar figures included herein are presented in United States dollars, unless otherwise noted. Upon closing of the Transaction, Quarterhill and the Business are expected to have approximately $2 billion of combined backlog1, providing strong visibility into future contracted revenue. On a pro-forma combined basis after planned synergies, the combined business would have generated more than $400 million of revenue annually with an adjusted EBITDA margin between 10% and 15%.2"This is a transformational transaction for Quarterhill, and one the Board enthusiastically supports," said Rusty Lewis, Chairman of Quarterhill's Board. "Conduent's tolling solutions business brings scale, long-term agency relationships, proven technology capabilities and deep tolling expertise in a core market. The Board has full confidence in the management team to bring these businesses together, and we believe the combined platform will be better positioned to serve transportation agencies, expand profitability and create sustainable, long-term value for shareholders.""This acquisition materially advances our strategy to build a larger, more focused and more profitable ITS platform," said Chuck Myers, CEO of Quarterhill. "With greater scale, enhanced backlog visibility and meaningful Adjusted EBITDA3 contribution after anticipated day-one synergies, we believe Quarterhill will have a stronger foundation for long-term growth."The Conduent Tolling Business provides end-to-end tolling solutions for government transportation agencies p...