Exela Technologies Signs New Logo

Rhea-AI Summary

Exela Technologies, Inc. (NASDAQ: XELA, XELAP) has secured a $12 million contract over three years with a leading communications firm in Europe, enhancing its communication services platform. This partnership addresses rising customer demands as Exela aims to facilitate digital transformations. The contract is part of Exela’s ITPS segment, which generated over $874 million in revenue in 2021. Exela has already commenced service delivery, marking a significant step in its growth strategy in the European market.

Positive

• Secured a $12 million contract over three years, enhancing revenue streams.
• The contract is part of the ITPS line of business, which generated over $874 million in revenue in 2021.
• Commencement of service delivery indicates effective execution of the contract.

Negative

• None.

FRANKFURT, Germany, Sept. 20, 2022 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA, XELAP), today announced a contract with a leader in communications across Europe. Exela will utilize its communication services platform to meet the growing customer demand along their digital journey. The initial total contract value (“TCV”) is $12 million over the 3-year contract and Exela has already begun delivering its solutions. This new business is part of Exela’s ITPS line of business which generated over $874 million in revenue in 2021.

“We are pleased to offer a flexible solution to enable customized solutions for our customer’s end clients in a rapidly changing business environment. We look forward to further working with our new customer across Europe as we enable their digital journey,” said Vitalie Robu, President of Exela EMEA.

About Exela Technologies

Exela Technologies is a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and end-user experience. With decades of experience operating mission-critical processes, Exela serves a growing roster of more than 4,000 customers throughout 50 countries, including over 60% of the Fortune® 100. Utilizing foundational technologies spanning information management, workflow automation, and integrated communications, Exela’s software and services include multi-industry, departmental solution suites addressing finance and accounting, human capital management, and legal management, as well as industry-specific solutions for banking, healthcare, insurance, and the public sector. Through cloud-enabled platforms, built on a configurable stack of automation modules, and approximately 17,000 employees operating in 21 countries, Exela rapidly deploys integrated technology and operations as an end-to-end digital journey partner.

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Forward-Looking Statements

Certain statements included in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "may", "should", "would", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", "seem", "seek", "continue", "future", "will", "expect", "outlook" or other similar words, phrases or expressions. These forward-looking statements include statements regarding our industry, future events, estimated or anticipated future results and benefits, future opportunities for Exela, and other statements that are not historical facts. These statements are based on the current expectations of Exela management and are not predictions of actual performance. These statements are subject to a number of risks and uncertainties, including without limitation those discussed under the heading "Risk Factors" in Exela's Annual Report and other securities filings. In addition, forward-looking statements provide Exela's expectations, plans or forecasts of future events and views as of the date of this communication. Exela anticipates that subsequent events and developments will cause Exela's assessments to change. These forward-looking statements should not be relied upon as representing Exela's assessments as of any date subsequent to the date of this press release.

Investor and/or Media Contacts:

Vincent Kondaveeti
E: vincent.kondaveeti@exelatech.com

Mary Beth Benjamin
E: IR@exelatech.com

FAQ

What is the value of Exela's new contract announced on September 20, 2022?

Exela announced a $12 million contract over three years.

Which sectors does Exela's ITPS line of business serve?

Exela's ITPS line serves various sectors, helping enhance communication services.

How much revenue did Exela's ITPS business generate in 2021?

Exela's ITPS line generated over $874 million in revenue in 2021.

When did Exela Technologies announce the new contract?

Exela Technologies announced the new contract on September 20, 2022.

Which stock symbols are associated with Exela Technologies?

Exela Technologies is associated with the stock symbols XELA, XELAW, and XELAP.