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Saturday, Sep 23, 2023

NetSol Inks $10 Million Deal

Software firm NetSol Technologies Inc. has signed a $10 million deal with an international auto finance organization, the company announced. The Calabasas company, which installs and services software primarily used to manage auto lending and leasing, has signed a number of similar agreements in recent weeks, including a $5 million contract in Australia. “This is a game-changing agreement and will most likely grow in value and volume, as we anticipate it will be followed by a decade-long program of committed support and enhancements,” said NetSol President Naeem Ghauri, in a statement. Netsol did not name the company, citing non-disclosure agreements, but said the contract includes product licenses, consulting fees and on-site implementation and maintenance services. The company’s clients include manufacturers, automakers, financial institutions and utility companies. It has offices in San Francisco, London, Beijing, Bangkok, Lahore, Adelaide and Riyadh. Shares of NetSol closed up 5 cents or a fraction of a percent at $10.71 in trading on the Nasdaq.

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