- With this acquisition, Newgen well-poised to deliver low code, 
cloud-native AI/ML capabilities to every enterprise

   Newgen Software, a leading provider of a unified digital transformation 
platform, is pleased to announce that it is acquiring India-based Number Theory 
[http://numbertheory.ai/index.html], an AI/ML (artificial intelligence and 
machine learning) data science platform company, subject to the completion of 
conditions as stated in the approved Share Purchase Agreement. 

   Number Theory's platform, AI Studio, brings intuitive AI/ML to every 
enterprise, while unifying the entire lifecycle of data engineering, from data 
preparation to model development and monitoring. It empowers both citizen and 
expert data scientists to work faster and more efficiently, thereby helping in 
accomplishing key machine learning tasks in just hours or days, not months. 
This acquisition will further strengthen Newgen's low code digital 
transformation platform, NewgenONE [https://newgensoft.com/platform/], with 
AI/ML modeling and data analytics capabilities. 

   "Our customers are increasingly looking to leverage data for deeper insights 
and accelerated growth. Number Theory will bring domain expertise, along with a 
powerful engine to extract actionable insights in real time. AI/ML projects 
often get complex, expensive, and not rewarding. What we like about Number 
Theory's platform is that it is for every enterprise. It lets fusion teams 
build, deploy, and collaborate on the entire modeling lifecycle in low code and 
on cloud. We look forward to welcoming the Number Theory team to the Newgen 
family," said Virender Jeet, CEO, Newgen. 

   "Newgen has developed mission-critical and complex business applications for 
its customers across the globe, including for enterprises in the banking and 
insurance space. We felt that Newgen, with its strong customer portfolio and 
partner ecosystem, is the perfect growth partner. We are looking forward to 
helping our joint customers utilize their data in the enterprise with full 
potential using AI/ML technologies," said Rajan Nagina and Tarun Gulyani, 
co-founders of Number Theory. 

   About Newgen Software Technologies Limited

   Newgen is the leading provider of a unified digital transformation platform 
with native process automation, content services, and communication management 
capabilities. Globally, successful enterprises rely on Newgen's 
industry-recognized low code application platform to develop and deploy 
complex, content-driven, and customer-engaging business applications on the 
cloud. From onboarding to service requests, lending to underwriting, and for 
many more use cases across industries. Newgen unlocks simple with speed and 
agility.

   Media Contact; 
   meenakshi.arora@newgensoft.com  

   Logo: https://mma.prnewswire.com/media/676258/Newgen_Logo.jpg

   Source: Newgen Software Technologies Pty Ltd