Enclosed Press Release titled" Newgen Granted Patent in India for System and Method for Data Compression"
Awaiting price reaction for this filing.
Newgen Software Technologies has been granted an Indian patent (No. 565385) by the Indian Patent Office for inventing a 'System and Method for Data Compression.' The patent has a 20-year term starting April 26, 2017. With this grant, Newgen has now filed 55 patents in total, of which 25 have been granted across India and the US. The patented technology is designed to compress large volumes of data files with similar structures more efficiently than traditional compression methods, using advanced video compression techniques. This is particularly useful for industries handling high volumes of structured documents, forms, and system-generated reports, helping reduce storage costs and improve data handling speed.
Strengthens Newgen's intellectual property portfolio and supports its positioning as an AI-first digital transformation platform. While positive for long-term competitive moat, the immediate financial impact on revenue or stock price is likely limited since no commercial order or monetization details were disclosed.