Newgen Software Technologies Limited has informed the Exchange about This is to inform you that Newgen Software Technologies (UK) Limited, a wholly owned subsidiary of the Newgen Software Technologies Limited ( the Company ) incorporated in the UK, has executed a Master Service Agreement with a customer for cloud hosting, software license and implementation services.
NEWGEN · price
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Awaiting price reaction for this filing.
Newgen Software's wholly owned UK subsidiary has signed a Master Service Agreement with Tata Consultancy Services N.V., Belgium, valued at €4,222,683 (roughly ₹4-4.5 crore). The 5-year contract covers cloud hosting, software license and implementation services for a modernized cloud-based enterprise records management platform. The counterparty is an international entity in Belgium, and the contract is billed in euros. Promoter group companies have no interest in the counterparty, and it is not a related party transaction.
Modest positive — the deal diversifies revenue through an international client in hard currency (euros), but the size is small relative to Newgen's overall business, so limited impact on stock price is expected. It signals continued trust in Newgen's cloud and records management offerings from large global IT players.