Number Theory, an AI/ML (artificial intelligence and machine learning) data science platform firm based in India, has been acquired by Newgen Software, a prominent provider of a unified digital transformation platform. The purchase is contingent on the fulfillment of the criteria set forth in the authorized share purchase agreement.

The AI Studio platform from Number Theory combines the full data engineering lifecycle, from data preparation through model creation and monitoring. It enables citizen and expert data scientists to work more quickly and efficiently, completing crucial machine learning tasks in hours or days rather than months. With AI/ML modeling and data analytics capabilities, this purchase will boost Newgen’s low-code digital transformation platform, NewgenONE.

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. 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 modeling lifecycle in low code and on the cloud. We look forward to welcoming the Number Theory team to the Newgen family,” said Virender Jeet, CEO, Newgen.

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. We are looking forward to helping our joint customers utilize their data in the enterprise with full potential using AI/ML technologies,” said Rajan Nagina and Tarun Gulyani, co-founders of Number Theory.