Exela Technologies

Exela Technologies Inc.
Company 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 address finance & accounting, human capital management, and legal management, as well as banking, healthcare, insurance, and public sectors.

Exela Technology services include Artificial Intelligence (AI) enabledworkflow automation, digital mail rooms, attended and un-attended cognitive automation, print communications, and payment processing.[7]

In 2024, Exela announced a strategic partnership with Aidéo Technologies, a leading AI platform specializing in autonomous coding for healthcare and a provider of AI-powered medical coding productivity solutions to the revenue cycle management (RCM) industry.

In 2024 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 Asia.

In October 2022, Exela Technologies was listed as a Leader in the Everest Group – PEAK Matrix for Medical Coding Operations Assessment 2022".[9] In July 2019, Exela Technologies added Martin Akins to their board of directors.[10]

In July 2019, Exela Technologies added Martin Akins to their board of directors.[11]

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.[12] Greenlight Capital is one of the top investors in Exela Technologies.[13]

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.
  2. ^ "Exela Technologies Inc Company Profile". Reuters U.S. Retrieved 2018-06-10.
  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. ^ a b "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. ^ "Exela Technologies Implements Intelligent Lockers at George Washington University Campus". GlobeNewswire News Room. Retrieved 2018-06-10.
  9. ^ Staff, Correspondence (12 April 2018). "Exela Technologies Acquires Asterion International to Expand in Europe". Global Banking & Finance Review. Retrieved 15 April 2020.
  10. ^ "Exela Technologies, Inc. Announces Appointment of Martin Akins to Board of Directors". GlobeNewswire News Room (Press release). 2019-07-29. Retrieved 2019-08-22.
  11. ^ "Exela Technologies, Inc. Announces Appointment of Martin Akins to Board of Directors". GlobeNewswire News Room (Press release). 2019-07-29. Retrieved 2019-08-22.
  12. ^ "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). 2020-03-17. Retrieved 2020-04-02.
  13. ^ "GreenLight Capital Inc - 13F Holdings - David Einhorn - Fintel.io". fintel.io. 14 February 2020.

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