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NEWGEN SOFTWARE INCORPORATES WHOLLY OWNED SUBSIDIARY IN SAUDI ARABIA

by Koushik Gope
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Newgen Software Technologies, a leading provider of digital transformation solutions, has incorporated a wholly owned subsidiary in Saudi Arabia. The subsidiary, Newgen Software Technologies Company Limited, was incorporated on July 20, 2023.

The incorporation of the subsidiary is part of Newgen Software’s strategy to expand its presence in the Middle East region. Saudi Arabia is a key market for Newgen Software, and the company sees significant growth potential in the country.

The subsidiary will focus on providing Newgen Software’s digital transformation solutions to customers in Saudi Arabia. The solutions offered by the subsidiary will help customers in the country to automate their business processes, improve customer experience, and make better decisions.

The incorporation of the subsidiary is a significant milestone for Newgen Software. The company is confident that the subsidiary will help it to achieve its growth objectives in Saudi Arabia and the Middle East region.

Here are some additional details about the news:

  • The subsidiary is incorporated in Riyadh, Saudi Arabia.
  • The subsidiary has a capital of 1,000,000 Saudi riyals.
  • The subsidiary will be headed by Mr. Mohammed Al-Ghamdi, who has over 20 years of experience in the IT industry.
  • Newgen Software expects the subsidiary to generate revenues of $10 million in the first year of operations.

The incorporation of the subsidiary is a positive development for Newgen Software. The company is well-positioned to capitalize on the growth opportunities in the Middle East region. The subsidiary will help Newgen Software to expand its reach in the region and provide its solutions to a wider range of customers.

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