Why Exela Technologies Shares Are Rising

Exela Technologies Inc XELA shares are trading higher after the company announced the renewal of its services contract with a consulting firm. The renewal includes Digital Mailroom for over 90,000 users and the total contract value is over $35 million.

"We are proud of our long-standing partnership and the expansion of our strategic DMR platform renewal," said Suresh Yannamani, President of Exela, adding "we continue to see growing demand for our DMR platform in the SMB and enterprise customer segments."

Exela Technologies is a location-agnostic business process automation (BPA) leader combining industry specific and multi industry enterprise software and solutions. The company's BPA suite of solutions are deployed in banking, healthcare, insurance and other industries.

Exela Technologies has a 52-week high of $7.82 and a 52-week low of $0.34. At the time of publication, shares were up 29.7% at $0.54.