XBP Europe Holdings signs non-binding LOI to acquire Exela Technologies

XBP Europe Holdings (XBP) announced that it has entered into an exclusive, non-binding letter of intent with Exela Technologies to acquire Exela Technologies BPA, a provider of business process automation solutions. The closing of the acquisition will be subject to BPA completing a corporate reorganization which is expected to create a sustainable capital structure with a substantially deleveraged balance sheet. If completed, the acquisition will expand XBP Europe’s revenue to more than $1B from $145M on a pro forma basis for the twelve months ending September 30, 2024.