Newgen granted Patent in India for System and Method for Data Compression

Newgen Software, a leading provider of an AI-first unified digital transformation platform, has announced that the Indian patent office has granted a patent (No. 565385) for inventing the 'System and Method for Data Compression.' This patent has been filed for a term of 20 years commencing from April 26, 2017, in accordance with the provisions of the Patents Act, 1970.

The invention addresses efficient data compression for large volumes of data files where the majority of content is similar, with a smaller amount of varying data, especially in scenarios where traditional compression techniques may not be optimal. Since the invention is about a compression technique, it aims to reduce storage space and improve speed and efficiency of data handling, however, in a much better way than conventional compression techniques.

This is especially relevant in industries handling high volumes of structured documents, forms, or system-generated reports, enabling them to save storage costs and have faster data handling.

Newgen's patented system intelligently identifies homogeneous data files with similar structures and further segments them into static and dynamic regions. The system treats these files as sequential frames by leveraging advanced video compression techniques for highly efficient compression. This novel approach results in a single compressed video file, accompanied by metadata for precise storage and retrieval.

The patents acquired by Newgen further strengthen its leadership in building cutting-edge, industryspecific applications, which are instrumental in driving digital transformation across organizations worldwide.

Shares of Newgen Software Technologies Limited was last trading in BSE at Rs. 1158.75 as compared to the previous close of Rs. 1151.70. The total number of shares traded during the day was 14141 in over 874 trades.

The stock hit an intraday high of Rs. 1177.00 and intraday low of 1149.00. The net turnover during the day was Rs. 16451610.00.

Source : Equity Bulls

Keywords

NewgenSoftwareTechnologies INE619B01017 Patent India