Newgen Software is acquiring India-based Number Theory, an AI/ML (artificial intelligence and machine learning) data science platform company.

This acquisition will further strengthen Newgen’s low code digital transformation platform, NewgenONE, with AI/ML modelling and data analytics capabilities.

“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, Newgen.

“AI/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.”

“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 utilize their data in the enterprise with full potential using AI/ML technologies."