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) is frequently in the news as a business process automation and outsourcing company that reports on strategic initiatives, partnerships, contracts, and capital markets developments. Its disclosures emphasize digital transformation, workflow automation, and enterprise information management for customers across banking, healthcare, insurance, manufacturing, and the public sector.
News about Exela often covers financial results and investor communications, including quarterly earnings releases, segment performance for areas such as Information and Transaction Processing Solutions, Healthcare Solutions, and Legal & Loss Prevention Services, as well as conference call announcements for the financial community. These updates provide context on revenue trends, margins, operating results, and the company’s use of non‑GAAP metrics like Adjusted EBITDA.
Another recurring theme in Exela’s news is strategic partnerships and alliances. Recent announcements describe a partnership between its Finance and Accounting Outsourcing business unit and recruitment firm Michael Page to expand Exela’s Center of Excellence using models such as Build‑Operate‑Transfer, captive arrangements, and Business Processes as a Service. Exela has also highlighted a strategic alliance with Aidéo Technologies to integrate AI‑powered autonomous medical coding into its PCH Global healthcare platform, and collaboration through its Reaktr business unit to launch the SecAi AI‑powered cybersecurity service on Oracle Cloud Infrastructure.
Exela’s news flow also includes contract wins and cybersecurity‑related work, such as a disclosed short‑term security breach remediation contract valued at over $35 million, and updates on its breach remediation and cybersecurity offerings under the Reaktr.ai and Rust Consulting brands. In addition, the company issues releases on corporate and capital markets actions, including reminders for annual stockholder meetings, discussion of a potential spin‑off of Exela Technologies BPA, LLC, and announcements regarding its listing status, Nasdaq suspension, and subsequent trading of its securities on the OTC Markets system.
Investors and observers following XELA news can use this page to review how Exela communicates about its operations, partnerships, financial performance, and regulatory and listing developments over time.
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.