Irving-Based Exela Snags $35M Cybersecurity Contract for Breach Remediation

Exela aims to quickly mobilize resources for security breach remediation in high-stakes, time-sensitive scenarios. The contract began in June and is expected to conclude next month, the company said.

Exela Technologies Inc., an Irving-based global business process automation provider, has secured a short-term strategic contract valued at over $35 million for security breach remediation.

The contract, which began in June and is expected to conclude next month, involves an undisclosed client.

“This is a prime example of how Exela’s full-service cybersecurity compliance, remediation, and incident response solutions are resonating in the industry,” said Exela CEO Suresh Yannamani. He noted that Exela worked “diligently and expeditiously with our client on a legally sensitive situation.”

Yannamani added that the company is well-positioned to assist customers in a timely manner “as cybersecurity becomes increasingly critical as each day passes.”

Cybersecurity remediation identifies and addresses cyber threats that can impact a business’ network security.

The project will bolster Exela’s ITPS segment, which had revenue of $732 million in 2023. Exela said the project exemplifies its ability to quickly scale capacity and deliver customer remediation solutions.

Exela provides cybersecurity under the brand and 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 providing these services at scale. The company serves a growing roster of more than 4,000 customers across 50 countries, including more than 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.

With cloud-enabled platforms built on a configurable stack of automation modules, and roughly 13,600 employees, Exela said it “rapidly deploys integrated technology and operations as an end-to-end digital journey partner.”

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