Market Overview

Avenu Acquires Conduent's Local and Municipal Constituent Government Software Solutions Business

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Strategic Shift Expands Presence to All 50 States and Canada

Avenu
Insights & Analytics
(Avenu), a portfolio company of Mill Point
Capital, has entered into an agreement to acquire the assets and
operations of the Local and Municipal Constituent Government Software
Solutions business of Conduent
Incorporated
(NYSE:CNDT). The purchase positions Avenu as a leading
provider of solutions used by jurisdictions to manage service delivery
across multiple agencies.

The sale, which primarily includes software solutions for Conduent's
local and municipal government clients, gives Avenu a combined customer
base of nearly 3,000 in the 50 states and Canada. These jurisdictions
use a portfolio of more than 50 products consisting of:

  • Government Records Management (land/vital records)
  • Software solutions for managing criminal courthouse and juror
    administrative functions
  • Property tax collection, and property assessment software solutions
  • Unclaimed property collections management
  • Pension administration software applications
  • Stand-alone infrastructure IT managed services

"Local governments face extraordinary and growing challenges including
pension pressures, infrastructure costs, and changing business
environments and market participants. These factors, combined with
increasing service requirements of their constituents, create formidable
obstacles to planning, funding, and service delivery," says Avenu CEO
Paul Colangelo. "Avenu has the knowledge, expertise and commitment to
provide these services to local governments, empowering them to better
serve their constituents."

Comments Avenu Chairman Craig Adler, "We've reached this milestone
because we have listened to our customers and made the investment so
that we can continue providing relevant revenue enhancement and
administrative solutions to local governments."

The transaction, which is subject to certain regulatory approval and
customary closing conditions, is expected to close during the third
quarter of 2018.

About Avenu Insights & Analytics

Avenu Insights & Analytics provides local governments with ways to
achieve more predictable revenue that supports growth, fuels
modernization and ensures compliance with mandated but underfunded
programs. Avenu's revenue enhancement and administrative solutions find
and recover taxes, and license and permit fees that cities and counties
struggle to collect. The insights and improved fiscal posture enables
governments to deliver expected services and sustain a high quality of
life for residents. For more information, visit www.avenuinsights.com.

About Mill Point Capital

Mill Point Capital is a middle-market private equity firm focused on
control-oriented investments in the business services and industrial
sectors. The firm works with executive partners to leverage its
investment professionals' experience, while providing strategic and
operational guidance designed to drive long-term value creation in its
portfolio companies. Mill Point is based in New York, NY. For more
information, please visit www.millpoint.com.

About Conduent

Conduent creates digital platforms and services for businesses and
governments to manage millions of interactions every day for those they
serve. We are leveraging the power of cloud, mobile and IoT, combined
with technologies such as automation, cognitive and blockchain to
elevate every constituent interaction, driving modern digital
experiences that are more efficient, helpful and satisfying.

Conduent's differentiated offerings touch millions of lives every day,
including two-thirds of all insured
patients
 in the U.S. and nearly nine million people who travel
through toll
systems
 daily. Whether it's digital payments, claims processing,
benefit administration, automated tolling, customer care or distributed
learning – Conduent serves a majority of the Fortune 100 companies and
more than 500 government entities. Learn more at www.conduent.com.

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