Newgen to acquire AI and ML data company Number Theory
Newgen Software, a leading provider of a unified digital transformation platform has announced its plans to acquire data science company Number Theory, subject to the completion of conditions as stated in the approved Share Purchase Agreement.
"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” said Virender Jeet, CEO of Newgen.
“AI and 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 modelling lifecycle in low code and on cloud. We look forward to welcoming the Number Theory team to the Newgen family," he continued.
Number Theory is an India-based artificial intelligence and machine learning (AI and ML) data science platform. Its platform, AI Studio, brings intuitive AI and ML to enterprises and unifies the entire lifecycle of data engineering.
With AI Studio, Number Theory empowers both citizens and expert data scientists to work both faster and efficiently meaning key ML tasks can be accomplished in hours rather than days or months.
Strengthening Newgen’s platform with AI, ML and data analytics
As it plans to acquire Number Theory, Newgen will be able to strengthen its low-code digital transformation platform, NewgenOne, with AI and ML modelling and data analytics capabilities.
"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,” said Rajan Nagina and Tarun Gulyani, Co-Founders of Number Theory.
“We are looking forward to helping our joint customers utilise their data in the enterprise with full potential using AI/ML technologies," they added.
Companies across the world rely on Newgen's industry-recognised low code application platform to develop and deploy complex, content-driven, and customer-engaging business applications on the cloud.
Through this planned acquisition of Number Theory, Newgen has strengthened its position as a leader with the introduction of more AI, ML and data-driven technologies.
