Welcome to our dedicated page for EXELA TECHNOLOGIES news (Ticker: XELA), a resource for investors and traders seeking the latest updates and insights on EXELA TECHNOLOGIES stock.
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 updated its Capital Deployment Strategy, establishing XCV-STS, LLC to manage assets aimed at enhancing shareholder value. The company purchased $70 million in 2026 Senior Secured Notes at a discount using equity-raise funds, marking the first asset to STS. Interest from these notes and proceeds from planned asset sales will be utilized to return value to shareholders. While Exela is optimistic about executing the strategy, it acknowledges potential uncertainties regarding necessary approvals and successful implementations.
Exela Technologies announced a new 5-year contract with a major European financial services firm for its XBP® platform, valued at approximately $6 million. This contract represents a significant opportunity within the company's $874.2 million ITPS accounting segment, indicating strong market interest in Exela's bill and payment processing solutions. The Digital Mail Room module will be deployed to streamline critical banking documents and transactions, enhancing digital transformation for clients across multiple sectors.
Exela Technologies, Inc. (NASDAQ: XELA) has announced a 1-for-20 reverse stock split, effective July 25, 2022, at 5:00 p.m. ET. This decision aims to enhance the marketability and liquidity of its shares and ensure compliance with Nasdaq listing requirements. Post-split, approximately 64.8 million shares will be issued and outstanding, trading on a split-adjusted basis starting July 26, 2022. Exela Technologies is recognized as a leader in business process automation and serves over 4,000 customers globally, including more than 60% of the Fortune 100.
Exela Technologies, Inc. (NASDAQ: XELA, XELAP) announced receipt of a preliminary, non-binding acquisition proposal for a business unit generating approximately $200 million in revenue. The Company is in discussions with various parties regarding additional offers. This move aligns with Exela's strategy to maximize shareholder value by potentially divesting standalone assets, reducing debt, and lowering annual interest expenses. Exela's Board of Directors will review the proposal with its advisors, but no assurance of a finalized agreement or transaction is guaranteed.
Exela Technologies (NASDAQ: XELA, XELAP) has promoted Suresh Yannamani to Chief Executive Officer of its subsidiary, Exela Technologies BPA, LLC, effective July 12, 2022. This strategic move is part of Exela's ongoing plans to enhance business leadership and drive profitable growth across various markets. Yannamani, who has extensive experience within Exela's predecessor companies, will focus on leveraging data science and technology solutions in healthcare and billing operations, aiming to create value for stakeholders.
Exela Technologies has been recognized by Gartner® as a Niche Player in the Magic Quadrant for Finance and Accounting Business Process Outsourcing, as announced on June 30, 2022. This recognition highlights Exela's F&A BPO services, reflecting its competence in executing innovative financial solutions backed by deep business analytics. The company serves over 3,400 global clients across numerous industries. Exela's offerings utilize big data and automation to transform the financial services sector, aiming for enhanced efficiency and reduced human intervention.
Exela Technologies (NASDAQ: XELA, XELAP) has secured a $2.5 million contract with France's L’Assurance Maladie Caisse Nationale (Cnam), aimed at enhancing digital transformation efforts. The 4-year deal could exceed $4.5 million, involving the deployment of advanced document processing solutions, including Raptor and Intelliscan XDS scanners. Initial rollouts are set for two sites in 2022, expected to manage 40,000 documents daily, improving efficiency in healthcare claims processing. Exela’s digital solutions continue to attract clients amidst high global inflation.
Exela Technologies, Inc. (NASDAQ: XELA, XELAP) announced a major customer win of $136 million in total contract value (TCV) over three years, bringing its year-to-date XBP TCV wins to $175 million. This contract highlights the effectiveness of Exela's Exchange for Bills and Payments (XBP), which is a key contributor to its $874.2 million ITPS accounting segment for FY 2021. The XBP solution leverages Exela’s TMS® and Beats® platforms, improving transaction control and insights for customers.
Exela Technologies, Inc. (NASDAQ: XELA, XELAP) has closed a three-year $150 million financing facility with PNC Bank, expected to generate $6 million in estimated annual interest savings. This replaces the company's existing securitization facility and is based on current borrowing levels priced at L+400 bps. The move aims to enhance Exela's financial flexibility while supporting its global business process automation services. The company serves over 4,000 clients worldwide, including more than 60% of the Fortune 100.
Exela Technologies, Inc. has appointed Lakshmi Narayanan Chandramohan as President of Bills and Payments. With 27 years of experience, he will enhance Exela's Exchange for Bills and Payments (XBP) services, crucial for financial institutions. XBP is a leading revenue generator within the ITPS segment, focusing on digital transformation solutions. The appointment aims to bolster Exela's operational efficiency and customer experience amid industry challenges, including competitive pressure and regulatory demands.
FAQ
What is the current stock price of EXELA TECHNOLOGIES (XELA)?
What is the market cap of EXELA TECHNOLOGIES (XELA)?
What does Exela Technologies do?
What are the core segments of Exela Technologies?
Which segment generates the most revenue for Exela?
What industries does Exela serve?
What recent initiatives has Exela undertaken?
Where can I find the latest news about Exela Technologies?
How many employees does Exela Technologies have?
What are some key financial initiatives Exela is focusing on?
How can investors contact Exela Technologies?
Is Exela Technologies listed on any stock exchange?
