Imaging Business Machines, LLC acquired IntelliScan Smart Scanning Solutions of Exela Technologies, Inc.
June 08, 2023
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. (Exela) is a provider of transaction processing solutions, enterprise information management, document management and digital business process services. Exela's segments include Information & Transaction Processing Solutions (ITPS), Healthcare Solutions (HS) and Legal & Loss Prevention Services (LLPS). ITPS provides a range of solutions and services designed to aid businesses in information capture, processing, decisioning and distribution to customers primarily in the financial services, commercial, public sector and legal industries. HS operates and maintains a consulting and outsourcing business specializing in both the healthcare provider and payer markets. LLPS segment provides support services, such as bankruptcy labor, claims adjudication and employment and other legal matters. The Company's technology-enabled solutions allow global organizations to address critical challenges.