Verra Mobility signs new 7-year deal with Avis Budget on less favorable terms

Verra Mobility Corporation (NASDAQ: VRRM) announced it has reached a framework agreement with Avis Budget Group on the key commercial terms of a new seven-year tolling and violations services contract, according to a press release dated July 28, 2026.

The two companies are continuing to work on finalizing the remaining operational terms and conditions. Under the new arrangement, Avis Budget Group will have the option to perform certain activities internally, a change from the prior agreement.

Verra Mobility disclosed that the financial terms of the new contract are expected to be materially less favorable to the company compared to the prior agreement. Specific commercial terms were not disclosed.

Jon Keyser, president and chief executive officer of Verra Mobility, said the agreement reflects "the strength of our differentiated technology platform and our expertise in complex tolls and violations management for large vehicle fleets," adding that the deal extends a nearly two-decade partnership between the two companies.

Verra Mobility is headquartered in Mesa, Arizona, and operates in the United States, Australia, Europe, and Canada. The company reported processing more than 350 million toll transactions and over 5.6 million violations for fleet customers in 2025.

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