New Delhi, Mar 30 (PTI) IT company Newgen Software plans to double its business partners in the next 18 months to increase its revenue share in the growth markets, a senior official of the company said on Wednesday.

The company has direct presence in eight markets and reaches out to a total of 72 countries through system integrators and other partners.

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"We continue to focus on our high growth markets, including the US by further strengthening our partner ecosystem. Currently, we have about 12 partners, including large global system integrators, cloud companies, and technology partners. This includes the likes of Infosys, Wipro, Tech Mahindra, AWS, and Microsoft. We are looking to double this number in the next 18 months," Newgen Software CEO Virender Jeet said.

He was speaking on the sidelines of unveiling of a new logo after completion of 30 years of its incorporation.

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Newgen has filed for 44 patents, out of which 23 have been granted in India and the US.

Jeet said Newgen annually invests 9-10 per cent of its revenue on research and development and for building deep-domain expertise.

"We want to now reach out to Fortune 500 companies in the next phase of our growth," he said.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)