The share price of Newgen Software Technologies Ltd soared 7% on 27 March after the company announced that it had secured a contract for an Enterprise Content Management (ECM) solution. The project is valued at $1,285,074 in total, including taxes.
In an exchange filing, Newgen Software said, “We hereby inform you that Newgen Software Technologies Limited has accepted the Award Letter from the customer for Enterprise Content Management Solution (ECM).” According to a statement from Newgen Software, the contract is expected to be signed in five years.
Last month, Newgen Software Inc. (NSI), a major subsidiary of Newgen Software Technologies and a US-incorporated company, finished a Statement of Work (SoW) with a US-based client. The overall value for the first three years of the agreement was $1,930,147.
In January, a client in the insurance industry gave Newgen Software Inc. (NSI), a significant subsidiary of Newgen Software, purchase orders totalling $3,008,533 (tax included).
Founded in 1992, Newgen Software is a leading provider of a comprehensive digital transformation platform that includes native process automation, content services, and communication management capabilities.
With its headquarters in New Delhi, Newgen Software is an IT company that specializes in offering case management, business process management, customer communication management, and enterprise content management (ECM) solutions to government agencies, commercial businesses, and their affiliates.
At 11:32 am, the shares of Newgen Software were trading 4.44% higher at Rs 1,012 on NSE.
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