Exela Technologies Expands Contract with Major Consulting Firm

IRVING, Texas, Nov. 01, 2022 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or “the Company”) (NASDAQ: XELA, XELAP), a global business process automation (BPA) leader, announced today that it has expanded a with a major consulting firm to implement in its new building located in Mexico. With Intelligent Lockers currently set up at the consulting firm’s US locations, Exela will install lockers providing the same workplace experience to the Mexico based staff. The uptake for Exela’s Digital Mailroom (“DMR”) and Intelligent Locker solutions have been a significant value add for the firm in the US.

Exela’s Intelligent Locker solution supports a mobile workforce by providing day storage for personal belongings, secure document exchanges for clients, and delivery for mail and accountable packages. Exela’s Intelligent Lockers help create a seamless experience for the staff in the new building. This contract is part of Exela Enterprise Solutions, providing innovative Work from Anywhere solutions to support the rapidly evolving workplace environment and hybrid workforce. The revenue rolls up to our Information and Transaction Processing Solutions (“ITPS”) accounting segment which generated $874 million in revenue in FY 2021.

“Once the pandemic began, many companies looked for solutions that support remote and onsite workers in a effort to create an optimized workforce. Intelligent Lockers help companies do just that by offering a secure, convenient, and contactless option when it comes to deliveries and employee exchanges. We are excited about this opportunity to show how the future of the workspace will function and are pleased to expand internationally with our long tenured customer,” said Tatiana Koleva, President, Exela Enterprise Solutions

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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 approximately 17,000 employees operating in 21 countries, Exela rapidly deploys integrated technology and operations as an end-to-end digital journey partner

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.

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