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. (XELA) delivers business process automation solutions to enterprises worldwide. This news hub provides investors and stakeholders with direct access to official communications, financial disclosures, and strategic developments from the digital transformation leader.
Our curated collection features essential updates including quarterly earnings reports, technology partnerships, and operational milestones. Track Exela's progress in enhancing enterprise workflows through its proprietary automation platforms and cloud-enabled solutions.
Discover timely information on product innovations, client acquisitions, and industry-specific deployments across banking, healthcare, and legal sectors. All content is sourced directly from company filings and press releases to ensure reliability.
Bookmark this page for streamlined access to Exela's latest business developments. Monitor how the company continues to optimize mission-critical processes for global enterprises through its integrated digital transformation solutions.
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.
Exela Technologies, Inc. (NASDAQ: XELA, XELAP) announced a dividend of $0.46 per share for its 6.00% Series B Cumulative Perpetual Convertible Preferred Stock. This dividend applies to the quarter ending June 30, 2022 and includes the first 20 days of issuance in March 2022. It is payable in cash on June 30, 2022, to shareholders on record as of June 20, 2022.
Exela Technologies announced a 5-year contract renewal with a leading Irish bank, originally established in 2013. The renewal adds $19 million to the Total Contract Value and incorporates Exela's entire XBP suite, enhancing liquidity solutions, client communication, and transaction processing.
Vitalie Robu, President of Exela EMEA, emphasized the strategic importance of Ireland and the region's role as a model for growth in Europe.
Exela Technologies has advanced its Capital Deployment Strategy aimed at maximizing shareholder value, as outlined in their June 6, 2022 press release. The company plans to initiate the sale of several stand-alone assets, expected to generate proceeds exceeding $200 million. This initiative will be complemented by efforts to negotiate debt maturities and may pave the way for a future stock buyback program. Exela emphasizes that the success of these initiatives hinges on obtaining necessary approvals and executing asset sales effectively.
Exela Technologies, Inc. (NASDAQ: XELA, XELAP) announced $18.3 million in new customer contracts to be realized over three years, starting in Q3 2022. These contracts involve two new clients and highlight the robust performance of Exela's Exchange for Bills and Payments (XBP), a key revenue driver in their ITPS segment. The company noted increased interest in XBP solutions, attributed to pandemic recovery. Exela continues to pursue additional opportunities to leverage XBP's strengths, positioning itself as a leader in bill and payment processing.
Exela Technologies has appointed Sriram Ramanathan as Chief Technology Officer. Ramanathan will oversee product direction, solution strategy, and thought leadership to enhance digital transformation for Exela's global customer base. With over 23 years of technology experience, he previously held key roles at Genpact and Oracle, focusing on AI and engineering. Exela aims to optimize processes and outcomes through innovative tech solutions, serving over 4,000 clients worldwide.
Exela Technologies, Inc. has successfully completed its exchange offer, converting approximately 41.6 million shares of Common Stock into 2.08 million shares of its newly established 6.00% Series B Cumulative Convertible Perpetual Preferred Stock. This exchange allows shareholders to gain a liquidation preference of $25.00 per share. Furthermore, a stock dividend will be issued, granting Tandem Preferred Stock with voting rights, equal to one share for each Series B Preferred Stock held. These changes enhance shareholder value and voting power.
