-- Project Valued at More Than $3.0 Million; Expected Completion by End of 2013 --
CALABASAS, Calif., Feb. 26, 2013 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. (Nasdaq:NTWK), a worldwide provider of global IT and enterprise application solutions, today announced an agreement with a Fortune 500 global equipment manufacturer, to implement the NetSol Financial Suite™ (NFS™) software in North America.
Valued at more than $3.0 million, the agreement includes the license and implementation of the NFS™ Credit Application Processing System (CAP) and Contract Management System (CMS) for retail business operations, and the Wholesale Finance System (WFS) and Dealer Access and Auditing System (DAAS) for the subsidiaries wholesale floor-planning. The implementation is scheduled for completion by the end of the year."Through our industry leading leasing management solution, we help companies more effectively manage credit portfolios, further streamlining processes and procedures, and ultimately resulting in cost reductions," said Najeeb Ghauri, CEO of NetSol. "I congratulate our team in North America on this new win and look forward to a long and mutually beneficial partnership with our new customer." About NetSol Technologies NetSol Technologies, Inc. ( www.netsoltech.com ) is a worldwide provider of global IT and enterprise application solutions that include credit and finance portfolio management systems, SAP consulting and services, custom development, systems integration, and technical services for the global Financial, Leasing, Insurance, Energy, and Technology markets. Headquartered in Calabasas, Calif., NetSol's product and services offerings have achieved ISO 9001, ISO 20000, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a distinction shared by only 178 companies worldwide. The company's clients include Fortune 500 manufacturers, global automakers, financial institutions, utilities, technology providers, and government agencies. NetSol has delivery and support locations in San Francisco, London, Beijing, Bangkok, Lahore, Adelaide and Riyadh. The NetSol Technologies, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=9832 Forward-Looking Statements This press release may contain forward-looking statements relating to the development of the Company's products and services and future operation results, including statements regarding the Company that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The words "expects," "anticipates," variations of such words, and similar expressions, identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Factors that could affect the Company's actual results include the progress and costs of the development of products and services and the timing of the market acceptance. The subject Companies expressly disclaim any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based.
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