Exela Technologies (XELA) Stock Soars After Securing $136 Million Contract Source: GaudiLab | Shutterstock Exela Technologies (NASDAQ: XELA ) stock is taking off on Wednesday after gaining a new $136 million customer contract . According to a press release from the company, its Exchange for Bills and Payments (XBP) has continued to sign new logos contracts. This newest batch has it set to earn $136 million over the course of the next three years. So what exactly does all that mean? Exela Technologies is a business process automation company that helps companies make their workflow more efficient. It does so through the use of its payment processing, workflow, and digital mailroom services. Exela Technologies also mentions that this new contract brings its year-to-date total contract value to $175 million. That’s a strong start for its XBP business, which produced revenue of $874.2 million during fiscal 2021. 7 Bargain Income Stocks to Buy and Hold Forever Lakshmi Narayanan Chandramohan, president of Bills and Payments at Exela Technologies, said this in the news release. “This win highlights our scalable, referenceable XBP platforms effectiveness for rapid deployment for our customers.