Advisor to Newgen in Transaction with HSBC.
Avendus advises Newgen Software Technologies Ltd. in its INR 106 Mn funding from SAP Ventures
Newgen Software Technologies Limited, today announced that SAP Ventures has invested in the company for a minority ownership. Newgen will use the proceeds to fund continued growth, including product development & acceleration of global expansion plans, particularly in new geographies across the world like USA. The company is targeting expansion of its sales and marketing operations from 30 countries at present to 100 countries in the next four years.
Avendus Capital was the exclusive financial advisor for the transaction.
Newgen is a provider of enterprise solutions for BPM & ECM in BFSI, BPO, Telecom, Manufacturing & Government segments. According to IDC, Newgen is the market leader in India & has a global footprint with substantial market share in the Middle East, Africa & APAC.
Earlier this year, Newgen announced a significant investment of INR 300 million for a minority stake in the company by HSBC Private Equity (Asia). Now with SAP on board, Newgen is one of the few software product companies to have financial backing from the world's leading Financial Services and Technology companies that have extensive reach in overseas markets.
About Newgen Software
Newgen Software is 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. More than 100 of these implementations are large, mission-critical solutions deployed at the world's leading BFSI, BPO and Fortune Global 500 companies.
Newgen is recognized by distinguished research firms like IDC in its exclusive report “Newgen Software: Global Leader in Business Process Management and Document Management Solutions” and Celent as “Significant Player” in Banking DMS report. Winner of several awards such as Frost and Sullivan’ “Market Leadership Awards for Document Management System and Workflow Software 7 Services” and “Distinguished Application Product Company” by NASSCOM.
SAP Ventures is the corporate venture capital arm of SAP AG. SAP Ventures invests in innovative and disruptive software and services companies globally. SAP Ventures seeks to bring substantial benefit to all parties by facilitating interaction between portfolio companies and SAP and its ecosystem of customers and partners. SAP Ventures has a successful track record of building industry-leading companies by partnering with outstanding entrepreneurs and top-tier venture capital firms since 1996.
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