NEWGENNewgen Software Technologies Limited
Newgen’s UK subsidiary signs a £1.63 million document management agreement
- Order win
Newgen Software Technologies Limited has told the exchanges that its wholly owned UK subsidiary, Newgen Software Technologies (UK) Limited, has signed an agreement with a customer to provide a document management system. The agreement is worth £1.63 million in total, which the filing converts to about ₹20.51 crore at 1 GBP = ₹125.85.
The customer is Just Retirement Management Services Limited, incorporated in England and Wales. The agreement covers implementation services, software licences, cloud hosting, and maintenance and support services, and is to run for 3.5 years.
The filing says the work uses Newgen’s Enterprise Content Management platform OmniDocs and its Customer Communications Management platform OmniOMS, together with managed cloud services and implementation. The order comes from an international entity.
Newgen states that no promoter, promoter group or group company has an interest in the customer, and that the transaction is not a related party transaction.
Inference
The agreement is worth £1.63 million over 3.5 years, or about ₹20.51 crore at the rate in the filing. Because it is spread over several years and includes licences, cloud hosting, maintenance and support, the agreement runs over several years rather than a single period, and the filing does not give the split.
The filing shows the work is for an international customer on Newgen’s own platforms, OmniDocs and OmniOMS. It does not say how this agreement compares in size with Newgen’s overall business, so investors would need the company’s results to judge that.
Reference: Original filing (PDF)
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