Exela Technologies

Last updated
Exela Technologies Inc.
Company type Public
Nasdaq:  XELA
Russell 2000 Component
Industry Software, information technology
Predecessor SourceHOV LLC, Novitex Holdings, Inc. and Quinpario Acquisition Corp. 2
Founded2017
HeadquartersIrwing, Texas, ,
Key people
Suresh Yannamani (Chief Executive Officer of Exela Technologies BPA LLC)
ProductsPCH Global, XBP, TTY
Services enterprise information management, transaction processing services, business process automation
RevenueIncrease2.svg$1,292.6 Million (2020) [1]
Number of employees
16,000
Website www.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]

Contents

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.

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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. 1 2 "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.