SAP eyeing a minor stake in Newgen

NEW DELHI, INDIA: Enterprise Resource Planning (ERP) solution provider SAP Labs is likely to pick a strategic 10-15% stake in Newgen Software, a product company based in New Delhi.

The funds raised would enable Newgen to roll out its services in countries in Western Europe. According to sources, Newgen is looking at raising funds before it goes public in 2010.

“The tie-up is more on a strategic level where Newgen can access SAP Labs for guidance and input regarding ERP solution,” said a source.