| Log in

SAP Ventures Invests In Software Product Co Newgen Software

11 September, 2008

SAP Venture, the venture capital arm of enterprise software maker SAP, has invested Rs 10 crore in New Delhi-based software product company Newgen Software Technologies Ltd for a minority stake. This follows a $7.5 million investment by HSBC private equity in January this year. Newgen claims to be a market leader in Business Process Management (BPM) and Enterprise Content Management (ECM), with a global footprint of about 700 installations in over 30 countries. The company provides solutions in sectors such as banking, education, telecom, manufacturing, among others. 

“There are obvious synergies between the products of SAP and Newgen and the investment will lead to closer working of the two companies, which will help Newgen to grow faster and garner larger share of the fast growing BPM market,” said Diwakar Nigam, MD & CEO of Newgen.  

The new funds raised would be used for continued growth, including product development. The company also plans to expand its global presence, especially in USA. The company is targeting expansion of its sales and marketing operations from 30 countries at present to 100 countries in next four years. Newgen was founded in 1992. It has over 1,000 employees, which it plans to increase to 1,600, and its software development centers are in New Delhi and Chennai. In FY08 Newgen reported revenues of Rs 93 crore.

In July this year SAP Ventures led a $ 9.5 million in Series B financing of iYogi, a Gurgaon-based remote technical support provider. In June this year SAP Ventures had said that it is looking to invest about $4-5 million each in at least six emerging technology firms over the next 18 months, picking anywhere around 2-20% stake.


Leave Your Comment
Newgen Software raises funding from IDG Ventures and Ascent Capital

Newgen Software raises funding from IDG Ventures and Ascent Capital

Sainul K Abudheen 4 years ago
Delhi-based document imaging solutions provider Newgen Software Technologies Ltd...
Newgen Software gains on stock market debut

Newgen Software gains on stock market debut

Ankit Doshi 6 months ago
Newgen Software Technologies Ltd, the New Delhi-based IT firm backed by various...
Ascent Capital, IDG Ventures pick stake in Newgen; Headland exits with 2x

Ascent Capital, IDG Ventures pick stake in Newgen; Headland exits with 2x

Bhawna Gupta 5 years ago
Ascent Capital and IDG Ventures have acquired a minority stake in Delhi-based...
No Comments

SAP Ventures Invests In Software Product Co Newgen Software

Powered by WordPress.com VIP