Deals23 Jan 2025, 06:19 pm
Newgen Software Inc. Secures USD 3 Million Purchase Orders from Insurance Customer
AI Summary
Newgen Software Technologies Ltd. announced that its material subsidiary, Newgen Software Inc., has received purchase orders from a customer in the insurance industry. The total value of these orders, inclusive of taxes, amounts to USD 3,008,533. The orders do not fall under the definition of a related party transaction as per the Companies Act, 2013. The transactions were awarded by an international entity and will last for a duration of 5 years, starting from 23rd January 2025.
Key Highlights
- Newgen Software Inc. receives purchase orders worth USD 3,008,533 from an insurance customer
- The customer is an international entity
- The contracts have a duration of 5 years starting from 23rd January 2025
- The transactions do not fall under the definition of a related party transaction as per the Companies Act, 2013