Business briefs

Newgen Software Thursday said its consolidated net profit more than doubled to over Rs 18 crore for the December 2018 quarter from Rs 8.6 crore in the year-ago period. Its revenues rose 32 per cent to Rs 160.5 crore in the quarter under review from Rs 121.4 crore in the December 2017 quarter, Newgen said in a statement.

"I am encouraged with the progress and performance of the financial year till date...The quarter saw a good mix of business from new and existing clients. We continue to focus on delivering the best in class solutions for digital transformation to our customers," Newgen Software Technologies CMD Diwakar Nigam said. The company added 12 new customers in the October-December 2018 quarter, including digital transformation initiatives under two smart city projects.

* * * * * Anthill Ventures invests Rs 1 cr in Rooter

Anthill Ventures Thursday said it has invested Rs 1 crore in Rooter Sports Technologies. The startup will leverage funds to focus on growth in India and expand its footprint to Europe with partners in that region, Anthill said in a statement.

Rooter will also use the funds to expand client base to B2B customers and focus on growing its social feed, it added. Rooter is a live-sports fan engagement platform that connects sports fans with similar interests around the world, allows users to predict scores, and play live fantasy events with friends.

* * * * * Mindtree sets up new office in Minneapolis, US

IT firm Mindtree Thursday said it has set up a new office in Minneapolis, US, a move aimed at helping clients accelerate their adoption of software as a service (SaaS). "The new 30,000-square-foot space is architected to promote a flexible, dynamic work environment. Among the design goals was to create a silo-free space where employees can balance high-collaboration and intense focus," Mindtree said in a statement.

Mindtree's newest office is designed as a town setting with a network of smaller 'neighbourhoods' to encourage hyper-collaboration across small, agile teams, it added.