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Indo-U.S. venture gets ASP award

CHENNAI: PaperFly Corporation (www.paperfly.com), a leading U.S based Application Service Provider (ASP) for business information management solutions, was selected as the `Best Enterprise Service' in the ASP world-class awards given out at ASP world conference in San Jose, California, U.S. Paper Fly's service is powered by OmniDoc Technology from Newgen Software, New Delhi, For this technology transfer, Newgen has got 34 per cent equity stake in PaperFly and there is recurring annual revenue worth $500,000 for Newgen.

- Corporate Bureau

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