NETSOL Signs $12 Million Agreement with Major Global Automotive Company for Operations in China

ENCINO, Calif., March 13, 2024 (GLOBE NEWSWIRE) -- NETSOL Technologies, Inc. (Nasdaq: NTWK), a global business services and enterprise application solutions provider, has signed an agreement with a major global automotive company for its operations in China. The $12 million, five-year contract is for the deployment of NETSOL’s premier technology platform NFS Ascent.

Najeeb Ghauri, Chief Executive Officer of NETSOL Technologies, Inc., commented, “This selection is a validation of the superior performance and reliability of our products, specifically NFS Ascent, a cutting-edge solution capable of supporting large clients on a global scale. We’re energized by this contract with a leading automotive company in one of their key markets and look forward to providing support across their China-based operations.”

NETSOL commenced implementation in the second quarter of fiscal 2024 and realized a portion of this contract in licensing fees during that quarter.

About NETSOL Technologies

NETSOL Technologies, Inc. (Nasdaq: NTWK) is a worldwide provider of IT and enterprise software solutions primarily serving the global leasing and finance industry. The Company’s suite of applications is backed by 40 years of domain expertise and supported by a committed team of professionals placed in ten strategically located support and delivery centers throughout the world. NETSOL’s products help companies transform their finance and leasing operations, providing a fully automated asset-based finance solution covering the complete leasing and finance lifecycle.

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