MCLEAN, Va., Oct. 6 -- Newgen Software Technologies Limited, a New Delhi-based software product company announced that SAP Ventures, a division of SAP AG, has invested in the company for a minority ownership. Newgen will use the proceeds to fund continued growth, including product development and acceleration of global expansion plans, particularly in new geographies across the world like the USA. The company is targeting expansion of its sales and marketing operations from 30 countries at present to 100 countries in next four years.

"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."

"Newgen is one of India's leading software vendors that has managed to establish a global footprint and we look forward to being a part of the Company's continued geographic and product expansion," said Jai Das, who is 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 on year revenue growth. We hope to help Newgen build on the platform that it has already created."

Speaking on this occasion, Mr. Diwakar Nigam, M.D. & 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 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 the fast growing BPM market."

About Newgen

Newgen Software is a market leader in Business Process Management (BPM) and Enterprise Content Management (ECM), with a global footprint of about 700 installations in over 30 countries. Recently, Newgen Software won the prestigious CNBC Emerging India Awards 2008 for the IT, ITeS and ICE category. For more information, visit http://www.newgensoft.com

About SAP Ventures

SAP Ventures is the corporate venture capital arm of SAP AG. SAP Ventures invests in innovative and disruptive software and services companies globally. SAP Ventures seeks 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 http://www.sapventures.com