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Exela Technologies, Inc. (NASDAQ: XELA) is a global leader in business process automation (BPA), leveraging a vast global footprint and proprietary technology to provide digital transformation solutions. Exela's primary objective is to enhance quality, productivity, and end-user experience through its innovative services. The company has decades of experience in managing mission-critical processes and serves a diverse clientele of over 4,000 customers across 50 countries, including more than 60% of the Fortune 100.
Exela operates through multiple segments: Information and Transaction Processing Solutions (ITPS), Healthcare Solutions (HS), and Legal and Loss Prevention Services (LLPS). The ITPS segment generates the majority of the company's revenue, reflecting Exela’s strength in handling complex information and transaction processes.
Utilizing foundational technologies such as information management, workflow automation, and integrated communications, Exela offers a wide range of software and services. These include multi-industry departmental solution suites that address finance and accounting, human capital management, and legal management, along with industry-specific solutions for banking, healthcare, insurance, and public sectors.
Exela’s cloud-enabled platforms are built on a configurable stack of automation modules, enabling rapid deployment of integrated technology and operations as part of an end-to-end digital journey. The company employs approximately 17,500 individuals operating in 23 countries, ensuring a broad reach and efficient service delivery.
Recent achievements include launching a new Global Business Unit, Reaktr.ai, which focuses on cyber, large data, and generative AI. The goal is to address the rapidly changing industry demands and enhance operational efficiency and innovation for enterprise customers. Led by industry veteran Vineet Chaku, Reaktr.ai is expected to be a significant growth driver for Exela.
Financially, Exela has been working on stabilizing revenues and improving its balance sheet. The company has focused on cost management, leveraging automation, and making strategic investments in cyber security, data modernization, and cloud services. These efforts are aimed at positioning Exela for future growth and improving its overall financial health.
For the latest updates, news, and industry perspectives, visit Exela's investor relations website and follow them on social media:
For investor and media inquiries, contact Vincent Kondaveeti at vincent.kondaveeti@exelatech.com or Mary Beth Benjamin at IR@exelatech.com.
Exela Technologies has amended its exchange offer, allowing shareholders to convert 20 shares of common stock into tradable convertible preferred stock valued at $25, offering a 6% annual dividend. This exchange is at a premium of 127% to the $0.55 closing price on January 25, 2022, and will reduce the share count by approximately 30%. Shareholders must tender their shares before 11:59 p.m. EST on March 10, 2022. Exela plans to list the preferred stock on Nasdaq under the symbol 'XELAP', with trading expected within 30 days post-approval.
Exela Technologies (XELA) strengthens its position in Europe by acquiring a 25,000 square foot headquarters in Dublin, Ireland, post-Brexit. This strategic move enhances Exela's capabilities in the Irish payment sector, where it already processes 35 million transactions annually and commands over 80% market share in domestic and cross-border cheque processing. The acquisition aims to boost the company's service offerings, including payment verification solutions and support for digital banking migration, positioning Exela as a key player in the evolving European payment landscape.
Exela Technologies announced an amended Offer to exchange Common Stock for 6% senior notes due 2029. The new terms allow shareholders to exchange blocks of 20 shares for $25 of tradable notes, raising the consideration from $1.00 to $1.25 per share. The offering price represents a 127% premium over the closing price of $0.55 as of January 25, 2022. This initiative aims to reduce the share count by approximately 30%.
Exela Technologies, Inc. (NASDAQ: XELA) announced it has exceeded 6,000 users on its Work-From-Anywhere (WFA) platform for Intelligent Document Processing (IDP), aiming for over 25,000 users by year-end. This cloud-hosted solution enables a flexible global workforce to assist in data validation and machine learning, enhancing quality assurance while ensuring data anonymity. With this expansion, Exela is positioned to harness the gig economy and create job opportunities. The company aims to provide cost-effective, secure processing and advanced automation through its IDP solution.
Exela Technologies has announced an offer for shareholders to exchange blocks of 25 shares of common stock for $25 notes due 2029, accruing 6% interest. This offering represents an 82% premium over the closing price of $0.55 on January 25, 2022, with up to $100 million in notes available for exchange. The share count will be reduced by approximately 29% as shares tendered will be retired. Shareholders must tender their shares by Midnight EST on February 24, 2022. The company aims to enhance shareholder value following significant capital deployment to reduce debt in 2021.
Exela Technologies (NASDAQ: XELA) has renewed a services contract worth over $35 million with a major consulting firm, reaffirming a 20-year partnership. This renewal incorporates the Digital Mailroom (DMR) solution, which supports over 90,000 users and facilitates remote mail access. Exela's DMR enhances document management, enabling efficient digital transformation for clients. The company is experiencing rising demand for DMR solutions in small to medium-sized businesses and enterprise segments, indicating strong market positioning.
Exela Technologies (NASDAQ: XELA) announced a partnership with a national leader in post-acute healthcare focused on home healthcare and personal care as of January 21, 2022. This collaboration will enhance PCH Global's capabilities in data aggregation and reporting, facilitating access to high-quality care for patients. The PCH Global platform aims for improved claim resolution, payment transparency, and digital appeals, supported by a scalable cloud network with high uptime. The partnership highlights Exela's expertise in addressing complex healthcare needs.
Exela Technologies has announced an expansion of its contract with a major global bank, enhancing services to include foreign payment processing. This new offering is part of Exela's XBP platform and involves sophisticated payment security. The bank has confidence in Exela's international payment solutions, reflecting the company's continuous growth in payment processing across global banks.
Exela Technologies (NASDAQ: XELA) has expanded its partnership with a leading technology services provider, focusing on Medicaid programs with an initial value exceeding $2.5 million. This collaboration enhances the PCH Global platform, promoting payment integrity and revenue cycle management. The platform aims to ensure clean claims and reduce retrospective collections, with improved data analytics and cloud-hosted solutions. This expansion underscores Exela's commitment to delivering effective healthcare solutions and building healthier communities nationwide.
Exela Technologies has expanded its partnership with Mastercard in the EMEA region, focusing on automating Giro payments in Norway via its XBP platform. The initiative aims to enhance processing efficiency for over 11 million Giro payments using advanced optical/intelligent character recognition and automated signature verification. Exela's president for EMEA, Vitalie Robu, expressed pride in continuing this collaboration, highlighting its significance in the Norwegian market as part of Exela's global rollout of the XBP solution.
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