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Exela Gains on $15M Contract

Exela Technologies, Inc. (NASDAQ: XELA) found its stock higher Thursday, as the Irving, Texas-based company, a leader in business process automation today announced a contract with a public company in the leisure and hospitality space.

The three-year, $15-million TCV contract allows the customer to improve marketing efforts by utilizing Exela’s Marketing Automation platform to decrease time to market, increase operational efficiencies and decrease costs. XME is a platform within Exela’s Exchange for Bills and Payments solution suite that is further enhanced by AI analytics. XBP is the largest revenue contributor in the Information Transaction and Processing Solutions accounting segment of Exela which reported over $765 million in revenue in 2022.

“We are extremely excited for this partnership and the opportunity to provide the power of our XME solution to bring reduced costs, operational efficiencies, and optimized inventory management to their teams and customers,” noted Ken Bechard, President of Integrated Communications Solutions at Exela.

Exela is a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions that improve efficiency, quality, and productivity. With decades of experience operating mission-critical processes, Exela serves a growing roster of more than 4,000 customers throughout 50 countries, including over 60% of the Fortune® 100.

XELA shares acquired 10 cents, or 2.4%, Thursday to open at $4.40.