Newgen Software UK arm inks 4.2 million euro deal with TCS Belgium

Newgen Software Technologies on Wednesday said its UK-based subsidiary has executed a Master Service Agreement with Tata Consultancy Services N.V, Belgium.

The deal, valued at €4.22 million, covers cloud hosting, software licence and implementation services, and will run for a period of five years.

Under the agreement, Newgen will provide a modernised cloud-based enterprise records management platform for an end customer in Belgium. The company clarified that the contract is purely commercial in nature and does not fall under the ambit of related-party transactions.

The deal marks another addition to Newgen’s growing international portfolio, showcasing its focus on modernising enterprise solutions in overseas markets. Executed through Newgen Software Technologies (UK) Limited, a wholly owned subsidiary, the agreement underlines the company’s strategy of building deeper partnerships with global IT leaders such as TCS.

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Ahead of the announcement, shares of Newgen Software Technologies Ltd closed at ₹875.50 on the NSE, down 0.98%.