EXELA TECHNOLOGIES, INC.

(XELA)
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Delayed Nasdaq  -  04:00 2022-08-18 pm EDT
1.320 USD   -5.71%
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Exela Signs with Europe's Largest Financial Enterprise in Multi-Year Deal

04/28/2022 | 08:08am EDT

FRANKFURT, Germany, April 28, 2022 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA) has signed a multi-year license deal with Finanz Informatik (“FI”), the IT service provider of the Savings Banks Finance Group, a financial institution with approximately $3.5 trillion in assets, 300,000 employees and 67 million customers. Since 2006, Exela has been helping FI on its digital journey primarily with their Core Banking System, OS Plus.

The latest project will enable a standard, comprehensive end to end solution replacing many of the local solutions developed over the years. Exela will introduce Digital Mailroom and the AI-based distribution and process control will be carried out by Plexus CaseVision. The project is valued at a TCV of several million USD over the next few years.

“FI is one of the most important leaders in IT banking infrastructure and its commitment to implement Exela’s holistic solution embracing AI is a testament to our technology and service capability. We are proud that FI chose to partner with us,” said Vitalie Robu, President of Exela, EMEA.

About FI
Finanz Informatik Technologie Service is an innovative IT Partner for the financial sector and supports both public and private banks, insurance companies and finance service providers with standardized outsourcing services. The company has had a firmly entrenched position in the banking sector market for many years and also provides an attractive IT-Offer for the insurance sector.

About Exela Technologies
Exela Technologies is a business process automation (BPA) leader, leveraging a global footprint and proprietary technology to provide digital transformation solutions enhancing quality, productivity, and end-user experience. 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. Utilizing foundational technologies spanning information management, workflow automation, and integrated communications, Exela’s software and services include multi-industry, departmental solution suites addressing finance and accounting, human capital management, and legal management, as well as industry-specific solutions for banking, healthcare, insurance, and the public sector. Through cloud-enabled platforms, built on a configurable stack of automation modules, and over 17,000 employees operating in 23 countries, Exela rapidly deploys integrated technology and operations as an end-to-end digital journey partner.

For more Exela news, commentary, and industry perspectives, visit: https://investors.exelatech.com/  

And please follow us on social:
Twitter: https://twitter.com/exelatech 
LinkedIn: https://www.linkedin.com/company/exela-technologies 
Facebook: https://www.facebook.com/exelatechnologies/ 
Instagram: https://www.instagram.com/exelatechnologies 

The information posted on the Company's website and/or via its social media accounts may be deemed material to investors. Accordingly, investors, media and others interested in the Company should monitor the Company's website and its social media accounts in addition to the Company's press releases, SEC filings and public conference calls and webcasts.

Forward-Looking Statements
Certain statements included in this press release are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "may", "should", "would", "plan", "intend", "anticipate", "believe", "estimate", "predict", "potential", "seem", "seek", "continue", "future", "will", "expect", "outlook" or other similar words, phrases or expressions. These forward-looking statements include statements regarding our industry, future events, estimated or anticipated future results and benefits, future opportunities for Exela, and other statements that are not historical facts. These statements are based on the current expectations of Exela management and are not predictions of actual performance. These statements are subject to a number of risks and uncertainties, including without limitation those discussed under the heading "Risk Factors" in Exela's Annual Report and other securities filings. In addition, forward-looking statements provide Exela's expectations, plans or forecasts of future events and views as of the date of this communication. Exela anticipates that subsequent events and developments will cause Exela's assessments to change. These forward-looking statements should not be relied upon as representing Exela's assessments as of any date subsequent to the date of this press release.

Investor and/or Media Contacts:
Vincent Kondaveeti
E: vincent.kondaveeti@exelatech.com

Mary Beth Benjamin
E: IR@exelatech.com


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Source: Exela Technologies, Inc.

2022 GlobeNewswire, Inc., source Press Releases

All news about EXELA TECHNOLOGIES, INC.
10:07aExela Technologies Secures Framework Contract With Public IT Provider in Germany
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Financials (USD)
Sales 2022 1 126 M - -
Net income 2022 -207 M - -
Net Debt 2022 965 M - -
P/E ratio 2022 -0,39x
Yield 2022 -
Capitalization 85,8 M 85,8 M -
EV / Sales 2022 0,93x
EV / Sales 2023 0,88x
Nbr of Employees 17 000
Free-Float 99,4%
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Last Close Price 1,32 $
Average target price 31,00 $
Spread / Average Target 2 248%
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Managers and Directors
Shrikant Sortur Chief Financial Officer
Parvinder S. Chadha Executive Chairman
Sriram Ramanathan Chief Technology officer
John H. Rexford Independent Director
Martin P. Akins Independent Director
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