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NetSol Inks $5 Million Deal with Australian Firm

Software firm NetSol Technologies Inc. has signed a $5 million deal with an Australian lending firm, the company said Thursday. The Calabasas company, which installs and services software primarily used to manage lending and leasing activity, recently opened an office in Sydney as part of an expansion in the region. “Today’s announcement defines a new relationship that further validates our expansion strategy across (the Asia-Pacific region) and within Australia specifically,” said NetSol President Naeem Ghauri, in a statement. NetSol did not disclose the name of the Australian lender, but said that 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 Thursday up 61 cents or 6.4 percent to $10.11 in trading on the Nasdaq.

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