Exela Technologies

Exela Technologies Inc.
Type	Public
Traded as	NASDAQ: XELA; Russell 2000 Component
Industry	Software, information technology
Predecessor	SourceHOV LLC, Novitex Holdings, Inc. and Quinpario Acquisition Corp. 2
Founded	2017
Headquarters	Irwing, Texas, Irving, Texas, United States
Key people	Suresh Yannamani (Chief Executive Officer of Exela Technologies BPA LLC)
Products	PCH Global, XBP, TTY
Services	enterprise information management, transaction processing services, business process automation
Revenue	$1,292.6 Million (2020)
Number of employees	16,000
Website	www.exelatech.com

Exela Technologies, Inc. is an American business process automation ("BPA") company.^[2] It was created with the merger of SourceHOV LCC, Novitex Holdings, Inc. and Quinpario Acquisition Corp. 2.^[3]^[4]^[5]^[6]

Overview

Exela’s software and services include multi-industry department solution suites addressing finance & accounting, human capital management, and legal management, as well as industry-specific solutions for banking, healthcare, insurance, and public sectors.

Exela Technology services include workflow automation, digital mail rooms, attended and un-attended cognitive automation, print communications, and payment processing.^[7]

In 2022 the company declared serving 4,000+ customers^[8] in more than 50 countries.^[5] It has 1,100 onsite client facilities and 150 "delivery centers" in the Americas, Europe and Asian continent.^[9]^[10]

Exela Technologies has received recognition by various firms like Gartner, Everest Group, IDC and NelsonHall.

In October 2022, Exela Technologies was listed as a Leader in the Everest Group – PEAK Matrix for Medical Coding Operations Assessment 2022".^[11]

In July 2019, Exela Technologies added Martin Akins to their board of directors.^[12]

In March 2020, Exela completed the divestment of SourceHOV Tax, the company's tax consulting group, for $40 million to private equity firm Gainline Capital Partners.^[13] Greenlight Capital is one of the top investors in Exela Technologies.^[14]

As per the latest financial results published in August 2023, the number of employees stood at approximately 16,500.

References

↑ "Exela Technologies, Inc. Reports Preliminary Fourth Quarter and Full Year 2020 Results". 16 March 2021. https://www.globenewswire.com/en/news-release/2021/03/16/2193660/0/en/Exela-Technologies-Inc-Reports-Preliminary-Fourth-Quarter-and-Full-Year-2020-Results.html.
↑ Reuters Editorial. "Exela Technologies Inc Company Profile" (in en). https://www.reuters.com/finance/stocks/companyProfile/XELA.PH.
↑ "XELA : Summary for Exela Technologies, Inc. - Yahoo Finance" (in en-US). https://finance.yahoo.com/quote/xela/.
↑ "Novitex Merges with SourceHOV to Form Exela Technologies". https://www.idc.com/getdoc.jsp?containerId=US43031617.
↑ ^5.0 ^5.1 "Quinpario Acquisition closes $2.8 billion merger, launches Exela Technologies". https://www.bizjournals.com/stlouis/news/2017/07/13/quinpario-acquisition-closes-2-8-billion-merger.html.
↑ "RBC, Credit Suisse Support Formation of Exela Technologies - ABFJournal" (in en-US). http://www.abfjournal.com/dailynews/rbc-credit-suisse-support-formation-of-exela-technologies/.
↑ Bendor-Samuel, Peter. "Strategy For Building Digital Platforms" (in en). Forbes. https://www.forbes.com/sites/peterbendorsamuel/2018/03/14/strategy-for-building-digital-platforms/#5cd5326a1456.
↑ Inc., Exela Technologies. "Exela Technologies Implements Intelligent Lockers at George Washington University Campus" (in en-US). GlobeNewswire News Room. https://globenewswire.com/news-release/2018/03/20/1442651/0/en/Exela-Technologies-Implements-Intelligent-Lockers-at-George-Washington-University-Campus.html.
↑ "Exela Technologies, Inc. (Nasdaq: XELA) to Ring The Nasdaq Stock Market Opening Bell (NASDAQ:NDAQ)" (in en). http://ir.nasdaq.com/releasedetail.cfm?releaseid=1043865.
↑ "Exela Technologies, Inc. (NASDAQ:XELA) To Report Earnings - UK Market News" (in en-US). UK Market News. 2018-03-15. http://www.ukmarketnews.co.uk/2018/03/15/exela-technologies-inc-nasdaqxela-to-report-earnings/.
↑ Staff, Correspondence (12 April 2018). "Exela Technologies Acquires Asterion International to Expand in Europe". https://www.globalbankingandfinance.com/exela-technologies-acquires-asterion-international-to-expand-in-europe/.
↑ Inc, Exela Technologies (2019-07-29). "Exela Technologies, Inc. Announces Appointment of Martin Akins to Board of Directors". GlobeNewswire News Room (Press release). Retrieved 2019-08-22.
↑ Inc, Exela Technologies (2020-03-17). "Exela Technologies Completes $40 Million Divestment of SourceHOV Tax as Part of Strategic Plan to Sell Non-Core Business Assets". GlobeNewswire News Room (Press release). Retrieved 2020-04-02.
↑ 13G/A, Exela Technologies (14 February 2020). "GreenLight Capital Inc - 13F Holdings - David Einhorn - Fintel.io" (in en). https://fintel.io/i/greenlight-capital.

External links

Official website
Exela Technologies Inc. XELA (U.S.: Nasdaq) at The Wall Street Journal
Exela Technologies Inc. XELA (U.S.: Nasdaq) at CNN Money
Exela Technologies Inc. XELA (U.S.: Nasdaq) at The New York Times

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[1] "Exela Technologies, Inc. Reports Preliminary Fourth Quarter and Full Year 2020 Results". 16 March 2021. https://www.globenewswire.com/en/news-release/2021/03/16/2193660/0/en/Exela-Technologies-Inc-Reports-Preliminary-Fourth-Quarter-and-Full-Year-2020-Results.html.

[2] Reuters Editorial. "Exela Technologies Inc Company Profile" (in en). https://www.reuters.com/finance/stocks/companyProfile/XELA.PH.

[3] "XELA : Summary for Exela Technologies, Inc. - Yahoo Finance" (in en-US). https://finance.yahoo.com/quote/xela/.

[4] "Novitex Merges with SourceHOV to Form Exela Technologies". https://www.idc.com/getdoc.jsp?containerId=US43031617.

[:0-5] 5.0 ^5.1 "Quinpario Acquisition closes $2.8 billion merger, launches Exela Technologies". https://www.bizjournals.com/stlouis/news/2017/07/13/quinpario-acquisition-closes-2-8-billion-merger.html.

[6] "RBC, Credit Suisse Support Formation of Exela Technologies - ABFJournal" (in en-US). http://www.abfjournal.com/dailynews/rbc-credit-suisse-support-formation-of-exela-technologies/.

[7] Bendor-Samuel, Peter. "Strategy For Building Digital Platforms" (in en). Forbes. https://www.forbes.com/sites/peterbendorsamuel/2018/03/14/strategy-for-building-digital-platforms/#5cd5326a1456.

[8] Inc., Exela Technologies. "Exela Technologies Implements Intelligent Lockers at George Washington University Campus" (in en-US). GlobeNewswire News Room. https://globenewswire.com/news-release/2018/03/20/1442651/0/en/Exela-Technologies-Implements-Intelligent-Lockers-at-George-Washington-University-Campus.html.

[9] "Exela Technologies, Inc. (Nasdaq: XELA) to Ring The Nasdaq Stock Market Opening Bell (NASDAQ:NDAQ)" (in en). http://ir.nasdaq.com/releasedetail.cfm?releaseid=1043865.

[10] "Exela Technologies, Inc. (NASDAQ:XELA) To Report Earnings - UK Market News" (in en-US). UK Market News. 2018-03-15. http://www.ukmarketnews.co.uk/2018/03/15/exela-technologies-inc-nasdaqxela-to-report-earnings/.

[11] Staff, Correspondence (12 April 2018). "Exela Technologies Acquires Asterion International to Expand in Europe". https://www.globalbankingandfinance.com/exela-technologies-acquires-asterion-international-to-expand-in-europe/.

[12] Inc, Exela Technologies (2019-07-29). "Exela Technologies, Inc. Announces Appointment of Martin Akins to Board of Directors". GlobeNewswire News Room (Press release). Retrieved 2019-08-22.

[13] Inc, Exela Technologies (2020-03-17). "Exela Technologies Completes $40 Million Divestment of SourceHOV Tax as Part of Strategic Plan to Sell Non-Core Business Assets". GlobeNewswire News Room (Press release). Retrieved 2020-04-02.

[14] 13G/A, Exela Technologies (14 February 2020). "GreenLight Capital Inc - 13F Holdings - David Einhorn - Fintel.io" (in en). https://fintel.io/i/greenlight-capital.