Conduent is now an independent public company

Conduent Incorporated has completed its separation from Xerox and is now an independent public company trading on the New York Stock Exchange. Conduent debuts as the world’s largest pure-play business process services leader with approximately $6.7 billion in annual revenue, a portfolio of differentiated offerings and a vision focussed on technology and innovation to advance the client and constituent experience.

To mark the listing of its shares of common stock, Conduent representatives, including Chief Executive Officer Ashok Vemuri, will get together  to ring the opening bell at the NYSE.

With over 93,000 employees in more than 40 countries, Conduent is a Fortune 500-scale company with expertise in transaction-intensive processing, analytics and automation. Conduent helps organizations modernize, advance and improve the lives of the people they serve every day: retail consumers, commuters, patients, customers, employees and citizens.

“We have already begun laying the groundwork to drive profitable growth through sharpened go-to-market capabilities and greater consistency in applying our automation, analytics, innovation and expertise,” said Ashok Vemuri, CEO, Conduent. “Our significant transformation program will position our new company for long-term success.”

“NelsonHall has covered Xerox for many years in the business process services space,” said John Willmott, CEO of NelsonHall, a leading BPS analyst firm. “New digital technologies are giving new vigour to the BPS market and Conduent is in the forefront of applying new business models on behalf of its constituents via its Intelligent Automation capability.  We look forward to Conduent building on an already established strong suite of differentiated offerings for their constituents and are excited for industry growth prospects in 2017 and beyond.”

The company operates in a $260-billion industry growing at mid-single digit.

Conduent’s competitive strengths include:

* Leadership in business process services driven by deep expertise, strong client relationships and differentiated solutions in attractive growth industries, including healthcare and transportation;

* Ability to help clients drive improved business performance, higher quality and increased end-user satisfaction through continuous investment in innovation and development of new technologies and capabilities that improve business processes;

* Expertise in managing transaction-intensive, end-user driven processes on a large scale through a differentiated suite of high-quality multi-industry service offerings such as transaction processing, customer care and payment services; and

* A solid recurring revenue model, with an 86-per cent renewal rate, enabling stability to support strong and growing cash flow generation.

Conduent delivers seamless, mission-critical interactions for the world’s top brands and governments and touches millions of lives every day. Conduent –

* Serves 76 of the Fortune 100 businesses and more than 500 government entities.

* Supports the top 20 managed U.S. healthcare plans and 9 of top 10 pharma/life science companies.

* Is the No. 1 on-street parking service provider in the U.S.

* Handles more than 2.5 million contact center interactions daily for some of the world’s top brands.

As previously announced, under the terms of the separation agreements, on the distribution date of December 31, 2016, Xerox shareholders received one share of Conduent common stock for every five shares of Xerox common stock they held as of the close of business on December 15, 2016, the record date for distribution.