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Investing.com -- XBP Europe Holdings Inc (NASDAQ:XBP) stock surged 80% after finalizing its acquisition of Exela Technologies (OTC:XELA) BPA, LLC, a provider of business process automation solutions. The combined entity will operate as XBP Global Holdings, Inc., reflecting its expanded global footprint.
The acquisition is expected to boost XBP Global’s annual revenue to over $900 million, with approximately 11,000 employees across 19 countries serving more than 2,500 clients, including over 60 Fortune 100 companies.
"This development reflects our ambition to grow as a truly global technology and services powerhouse – a company with both regional strengths and a clear international identity," said Andrej Jonovic, CEO of XBP Global.
The transaction significantly strengthens BPA’s financial position, resulting in a trailing Net Debt-to-Adjusted EBITDA ratio of approximately 3.5x for the combined company. As part of the deal, XBP Europe issued about 81.8 million new shares of common stock, eliminating $1.1 billion of BPA’s secured debt under a court-approved reorganization plan.
The shares were valued at $4.98 each, with an equity valuation of $585.7 million for purposes of the plan. Following this transaction, BPA and its subsidiaries have successfully emerged from Chapter 11 bankruptcy protection.
XBP Global has also enhanced its corporate governance framework with a broader base of institutional shareholders and a majority independent Board of Directors that now includes new experienced members.
The company has made substantial investments in artificial intelligence, deploying AI-powered workflow solutions across key sectors including healthcare, banking, and the public sector to enhance operational efficiency.
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