Exela Technologies

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]

Exela Technologies
TypePublic
Nasdaq: XELA
Russell 2000 Component
IndustrySoftware, information technology
PredecessorSourceHOV LLC, Novitex Holdings, Inc. and Quinpario Acquisition Corp. 2
Founded2017
Headquarters
Irving, Texas
,
United States
Servicesenterprise information management, transaction processing services, business process automation
RevenueIncrease$1,292.6 Million (2020)[1]
Number of employees
22,000
Websitewww.exelatech.com

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 2018 the company declared serving 3,500 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]

In June 2018, Exela Technologies was listed as a major contender in the Everest Group – "Know your customer-Anti Money Laundering (KYC-AML) BPO – State of the Market with PEAK Matrix Assessment 2018".[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 2022, the number of employees stood at approximately 17,500.

References
  1. "Exela Technologies, Inc. Reports Preliminary Fourth Quarter and Full Year 2020 Results". 16 March 2021.
  2. Reuters Editorial. "Exela Technologies Inc Company Profile". Reuters U.S. Retrieved 2018-06-10. {{cite web}}: |author= has generic name (help)
  3. "XELA : Summary for Exela Technologies, Inc. - Yahoo Finance". Retrieved 2018-06-12.
  4. "Novitex Merges with SourceHOV to Form Exela Technologies". IDC: The premier global market intelligence company. Retrieved 2018-06-10.
  5. "Quinpario Acquisition closes $2.8 billion merger, launches Exela Technologies". www.bizjournals.com. Retrieved 2018-06-10.
  6. "RBC, Credit Suisse Support Formation of Exela Technologies - ABFJournal". www.abfjournal.com. Retrieved 2018-06-10.
  7. Bendor-Samuel, Peter. "Strategy For Building Digital Platforms". Forbes. Retrieved 2018-06-10.
  8. Inc., Exela Technologies. "Exela Technologies Implements Intelligent Lockers at George Washington University Campus". GlobeNewswire News Room. Retrieved 2018-06-10. {{cite news}}: |last= has generic name (help)
  9. "Exela Technologies, Inc. (Nasdaq: XELA) to Ring The Nasdaq Stock Market Opening Bell (NASDAQ:NDAQ)". ir.nasdaq.com. Retrieved 2018-06-11.
  10. "Exela Technologies, Inc. (NASDAQ:XELA) To Report Earnings - UK Market News". UK Market News. 2018-03-15. Retrieved 2018-06-11.
  11. Staff, Correspondence (12 April 2018). "Exela Technologies Acquires Asterion International to Expand in Europe". Global Banking & Finance Review. Retrieved 15 April 2020.
  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. {{cite press release}}: |last= has generic name (help)
  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. {{cite press release}}: |last= has generic name (help)
  14. 13G/A, Exela Technologies (14 February 2020). "GreenLight Capital Inc - 13F Holdings - David Einhorn - Fintel.io". fintel.io.
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