Exela Technologies Announces $35 Million Breach Remediation Notification Contract Win
June 24 2024 - 8:30AM
Exela Technologies, Inc. (“Exela” or “the Company”) (NASDAQ: XELA,
XELAP), a global business process automation (“BPA”) leader, today
announced a contract win valued at over $35 million. The short-term
strategic contract in security breach remediation began in June and
is expected to conclude next month. The project will be accretive
to the Company’s ITPS segment which had revenue of $732 million in
2023. This is an example of the Exela’s ability to quickly scale
capacity and deliver customer remediation solutions.
Exela offers customers cybersecurity under the brand Reaktr.ai,
breach remediation services under the brand Rust Consulting coupled
with notification services by Exela Technologies BPA LLC. With a
presence in 20 countries including XBP Europe Holdings, Exela is
one of the few companies to provide these services at
scale.
“This is a prime example of how Exela’s full service
cybersecurity compliance, remediation and incident response
solutions are resonating in the industry. Exela worked diligently
and expeditiously with our client on a legally sensitive situation.
At Exela, we are well positioned to help our current and potential
customers in their time of need as cybersecurity becomes
increasingly critical as each day passes,” noted Suresh Yannamani
CEO, Exela Technologies BPA.
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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 13,600 employees operating in
20 countries, Exela rapidly deploys integrated technology
and operations as an end-to-end digital journey partner.
Investor and/or Media Contacts:
Vincent KondaveetiE: vincent.kondaveeti@exelatech.com
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