Core Viewpoint - XBP Europe Holdings, Inc. has entered into a non-binding letter of intent to acquire Exela Technologies BPA, LLC, which will significantly increase XBP Europe's revenue and enhance its market position in business process automation solutions [1][2]. Company Overview - XBP Europe is a pan-European integrator focused on bills, payments, and related solutions, serving over 2,000 clients across various industries including banking, healthcare, and public sector [3]. - The company aims to facilitate digital transformation and optimize clients' billing and payment processes through proprietary software and cloud-based solutions [3]. - XBP Europe operates in 15 countries with a workforce of approximately 1,500 employees [3]. Exela Technologies BPA Overview - BPA is a leading provider of business process automation solutions, serving over 1,550 customers globally [4]. - The company utilizes proprietary technology to enhance quality, productivity, and user experience across various sectors including finance, healthcare, and legal management [4]. - BPA employs around 11,000 individuals and operates in 5 countries, providing integrated technology and operations as a digital journey partner [4]. Transaction Details - The acquisition, if completed, will increase XBP Europe's revenue from $145 million to over $1 billion on a pro forma basis for the twelve months ending September 30, 2024 [1]. - The transaction is contingent upon BPA completing a corporate reorganization to achieve a sustainable capital structure [1]. - Both parties are committed to negotiating definitive agreements and completing due diligence, although there is no guarantee that the transaction will be finalized [2].
XBP Europe Holdings, Inc. Signs Exclusive Non-Binding Letter of Intent to Acquire Exela Technologies BPA, LLC