Deals1 April 2026 at 07:40 am
Newgen Software Inc. Secures USD 1.61 Million Agreement with Illinois-based Insurance Firm
AI Summary
Newgen Software Technologies Ltd. announced that its material subsidiary, Newgen Software Inc. (NSI), has entered into a significant agreement with an insurance company in Illinois, USA. The total value of the agreement is USD 1,609,400 (US Dollars One Million Six Hundred Nine Thousand Four Hundred Only), equivalent to approximately INR 15,11,71,942 (Indian Rupees Fifteen Crore Eleven Lakh Seventy-One Thousand Nine Hundred Forty-Two Only). The agreement is for annual software license, cloud hosting services, and other professional service fees, and is expected to be executed over a 3-year period starting from 1st April 2026.
Key Highlights
- Newgen Software Inc. has secured a USD 1.61 Million agreement with an Illinois-based insurance firm.
- The agreement is for annual software license, cloud hosting services, and other professional service fees.
- The agreement is expected to be executed over a 3-year period starting from 1st April 2026.
- The total value of the agreement is USD 1,609,400, equivalent to approximately INR 15,11,71,942.
- This deal does not fall within the definition of a related party transaction as specified under the provisions of the Companies Act, 2013.