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Exela Technologies

Topic: Company

 From HandWiki - Reading time: 3 min
Exela Technologies Inc.
TypePublic
NASDAQ: XELA
Russell 2000 Component
IndustrySoftware, information technology
PredecessorSourceHOV LLC, Novitex Holdings, Inc. and Quinpario Acquisition Corp. 2
Founded2017
HeadquartersIrwing, Texas,
Irving, Texas
,
United States
Key people
Suresh Yannamani (Chief Executive Officer of Exela Technologies BPA LLC)
ProductsPCH Global, XBP, TTY
Servicesenterprise information management, transaction processing services, business process automation
RevenueIncrease$1,292.6 Million (2020)[1]
Number of employees
16,000
Websitewww.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

  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. 
  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. 

External links



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