Imaging Business Machines, LLC acquired IntelliScan Smart Scanning Solutions of Exela Technologies, Inc.
June 08, 2023
Share
Imaging Business Machines, LLC acquired IntelliScan Smart Scanning Solutions of Exela Technologies, Inc. for $30.1 million on June 9, 2023. The purchase price is approximately $30.1 million, subject to final working capital adjustments. Per the terms of the sales agreement, the Company may receive additional cash consideration upon the future occurrence of certain earn out events described in the sales agreement. The Contingent Consideration, if any, will be recognized in the period the earn out event occurs, and the Contingent Consideration is realizable. Exela Technologies plans to use the incremental liquidity for general corporate purposes, debt obligations and transactions expenses. The Business generated revenue of $20.5 million in 2022. Sheryl Orr of Morgan, Lewis & Bockius LLP acted as legal advisor to Imaging Business Machines, LLC.
Imaging Business Machines, LLC completed the acquisition of IntelliScan Smart Scanning Solutions of Exela Technologies, Inc. on June 9, 2023.
Exela Technologies, Inc. is a provider of transaction processing solutions, enterprise information management, document management and digital business process services. Its segments include Information & Transaction Processing Solutions (ITPS), Healthcare Solutions (HS) and Legal & Loss Prevention Services (LLPS). ITPS provides industry-specific solutions for banking and financial services, including lending solutions for mortgages and auto loans, and banking solutions for clearing, anti-money laundering, sanctions, and interbank cross-border settlement; property and casualty insurance solutions for origination enrollments, claims processing, and benefits administration communication, among others. HS offerings include revenue cycle solutions, integrated accounts payable and accounts receivable, and information management for both the healthcare payer and provider markets. LLPS solutions include processing of legal claims for class action and mass action settlement administrations.
EXELA TECHNOLOGIES, INC. 
