- 08 Jul 2022
- ICICIdirect Research
NEWGEN, COFORGE FORM GLOBAL STRATEGIC ALLIANCE TO ACCELERATE DIGITAL FOR ORGANISATIONS
News: Newgen informed the stock exchanges that it has announced a partnership with Coforge as a part of their GSI opportunity. This alliance brings together Coforge’s expertise and implementation resources strength with Newgen’s business insights and robust, secure, and scalable low code digital transformation platform—NewgenONE. Newgen’s and Coforge’s combined capabilities will help organisations transform current processes, enhance operational efficiency and gain a competitive edge over peers
Views: Newgen has already indicated that it is looking to grow over and above its normal growth rate through GSI partnerships. It has partnerships with top 4 GSIs and Coforge would be an addition to this. Coforge order book also doubled in FY22 to US$1.1 bn, which includes 11 large deals (one 100 mn+ and three 50 mn+ deals included). Alliance with Coforge would provide an incremental revenue opportunity for Newgen in terms of license as well as annuity revenues, going forward
Impact: Positive