Newgen Software acquires Number Theory for over Rs 16 cr Mumbai, Jan 19 (PTI) Newgen Software, a leading provider of a unified digital transformation platform, has acquired Number Theory, which is an artificial intelligence/ machine learning (AI/ML) data science platform firm, for Rs 16.05 crore.
This is a strategic acquisition and Newgen will make a closing payment of Rs 7.02 crore to the promoters for 100 per cent equity shares, a company spokesman told PTI.
The founders will also receive a deferred payment of Rs 7.02 crore in the next three years, subject to certain conditions and their continued employment with Number Theory/Newgen. That apart as a part of closing conditions, Newgen will also grant Rs 2.41 crore to Number Theory to settle its outstanding dues such as dues to debentures’ holders, option holders, bank loans and directors’ loans.
Newgen CEO Virender Jeet said Number Theory brings intuitive AI/ML that unifies the entire lifecycle of data engineering, from data preparation to model development and monitoring.
* * * Medical diagnostics player Medall to open 300 centres in southern India * Mumbai: The Tamil Nadu-based chain will open more centres in Karnataka, Andhra, Telangana and Kerala this year on a franchisee model.
These centres will be in multiple formats comprising collection centres, mini wellness centres, full-service centres, lab collection centres and care centres, Arjun Ananth, CEO of Medall said. By expanding across South India, we aim to offer the best-in-class diagnostic and preventive healthcare services with a view to prevent the onset of the virus and other ailments and to enable people to stay in their best of health, he added.
Medall claims to be the fourth-largest diagnostics player today with over 7,500 customer touchpoints across 70 districts in seven states and runs 22 NABL accredited labs. It has served over 50 million customers and administered over 150 million tests so far.
* * * Worldline elevates Chandnani as chairman, Narasimhan as CEO * Mumbai: Worldline, which leads the European payments and transactional services space, elevated Deepak Chandnani as executive chairman for India and South Asia/Middle East and Ramesh Narasimhan as the CEO for India.
Both appointments are effective April 2022, when Deepak Chandnani’s term as MD and CEO ends, Vincent Roland of Worldline said.
While it leads the European payments and transactional services industry, Worldline is the fourth largest in the world and serves over 50 countries. Worldline India is partner to over 20 banks and works with all top e-commerce giants and facilitates services to over 1.5 million merchants across 5,000 locations.
* * * Sahicoin raises USD 1.75 m from Alameda Ventures, Better Capital, others New Delhi: Sahicoin, the crypto native social platform, has raised USD 1.75 million in the latest seed funding round led by Alameda Ventures, Better Capital Ventures and other institutional investors.
The fresh round of funding will be deployed to scale up the team across engineering and product, and grow the platform, it said. Founded by IIT-Kanpur alumni, Amit Nayak, Ankush Rajput, and Melbin Thomas in August 2021 in New Delhi, the platform aims to empower the next billion crypto enthusiasts to make faster and better investing decisions. It is an invite-only app.
The current seed round also saw many angel investors including Kunal Shah from Cred, cricketer Suresh Raina, Naveen Kukreja of Paisabazaar, Aneesh Reddy of Capillary, Gyanesh Maheshwar of Coinbase, and Prashan Agarwal of Gaana, among others. PTI BEN HRS hrs
