This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

NetSol Technologies Awarded Agreement Valued In Excess Of $10 Million With Major Global Auto Finance Captive Company

CALABASAS, Calif., June 20, 2013 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. (Nasdaq:NTWK), a worldwide provider of global IT and enterprise application solutions, today announced that it has signed a new agreement valued at more than $10 million to implement the complete front and back office modules of the NetSol Financial Suite TM Platform for a major global auto captive finance Company. The customer's name was not disclosed because of non-disclosure agreements in place.

NetSol said the implementation has already begun and shall consist of several delivery phases beginning later this calendar year. The contract includes product licenses, business processes consultancy and site implementation services. Additional revenue streams include maintenance, support and product enhancements.

Recently, NetSol has actively engaged with the client in a business process mapping and re-engineering program, which has yielded significant alignment and efficiencies. The new agreement is an outcome of this process and is expected to yield a state of the art technology platform and also introduce a number of best practices within the organization. The agreement is one of the most comprehensive NetSol has signed to date and is in keeping with NetSol's growth strategy and market leading position of a product offering that aligns business and IT process change.

"Our agreement represents a major business transformation program that will touch almost every part of our client company, and shall bring change, visibility and tangible, measurable business results," said Naeem Ghauri, President and Head of Global Sales of NetSol. "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."

"We look forward to building a long term relationship with our new client to support their growth within the original country of implementation and potentially in various new markets," added Najeeb Ghauri, CEO of NetSol. "We are excited to begin this new relationship and thank them for their trust in our technology and company."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs