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Thursday, Dec 8, 2022
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NetSol Signs First U.K. Customer for Ascent Platform

NetSol Technologies Inc. has signed a contract valued at about $4 million with an independent used vehicle finance company in the United Kingdom to use its software. The Calabasas software developer for the vehicle and equipment leasing markets will make available to the unnamed client its NFS Ascent finance platform, a subscription-based product that was chosen for its proven track record of use in foreign markets. NetSol Chief Executive Najeeb Ghauri said this roll out marks the first for the Ascent platform in the United Kingdom. “Going forward, we believe this agreement will serve as a springboard to garner interest and eventual business for NFS Ascent with other finance and leasing companies in the region,” Ghauri said in a statement. The contract announcement was made on Monday. On Wednesday, shares of NetSol (NTWK) closed unchanged at $5.80 on the Nasdaq.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.
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