Speaking on this investment from SAP, Mr. Diwakar Nigam, MD & CEO of Newgen said, 'We are pleased that SAP Ventures has chosen to invest in Newgen. It is a testimony to Newgen's Imaging and Workflow products for Business Process Management (BPM). We have many installations where we complement SAP in the Manufacturing and BFSI market segment. There are obvious synergies between the products of SAP and Newgen, and the investment will lead to closer working of the two companies which will help Newgen to grow faster and garner larger share of fast growing BPM market."

'Newgen is one of India's leading software vendors that has managed to establish a global footprint and we look forward to be part of the Company's continued geographic and product expansion' said Jai Das, an Investment Partner at SAP Ventures and manages its investments in India. "The Company has created a very compelling product for automating workflows and for managing business processes of enterprises in various market segments including BFSI, BPO and Telecom, which has enabled the company to have significant year-over-year revenue growth. We hope to help Newgen build on the platform that it has already created."

'An integrated Content Management and Business Process Management platform is vital to successfully automate paper-based workflows and manage the enormous volume of digital content created,' said Ranjan Das, President & CEO, SAP Indian Subcontinent. "In line with our focus, I am delighted that SAP India is able to nurture innovation in the Indian IT Sector through this investment in Newgen by SAP Ventures."

About SAP Ventures

SAP Ventures invests in innovative and disruptive software and services companies globally. We pursue opportunities across all stages for outstanding financial return. Our goal is to bring substantial benefit to all parties by facilitating interaction between portfolio companies and SAP and its ecosystem of customers and partners. SAP Ventures has a successful track record of building industry-leading companies by partnering with outstanding entrepreneurs and top-tier venture capital firms since 1996.

For more information, visit www.sapventures.com.

Earlier this year (2008), Newgen announced a significant investment of INR 300 million for a minority stake in the company by HSBC Private Equity (Asia).

Speaking on this investment by the HSBC fund, Diwakar Nigam, MD & CEO of Newgen said, "Our company has been growing at the rate of 50-60 percent in products and solutions business over the last three years. We have been working with more than 30 large BFSI customers on a continual basis. With HSBC on board, we look forward to replicating our success in new markets and maximizing shareholder value through our highly scalable product-based business model."

According to James Savage, Investment Director of HSBC Private Equity Asia, "Newgen is one of a few sizeable software product companies in India, which has established a blue chip client base. Newgen is able to deliver outstanding value to its customers based on the intellectual property it has developed. The worldwide market for business process management and content management solutions is expected to experience strong growth over the medium term. We believe that Newgen is well positioned to benefit from this opportunity. HSBC Private Equity Asia will assist Newgen in its business development through our extensive network and reach in overseas markets."