Company:Exela Technologies

From HandWiki
Exela Technologies Inc.
TypePublic
NASDAQXELA
Russell 2000 Component
IndustrySoftware, information technology
PredecessorSourceHOV LLC, Novitex Holdings, Inc. and Quinpario Acquisition Corp. 2
Founded2017
HeadquartersIrwing, Texas,
Irving, Texas
,
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