NetSol Technologies Awarded IT Services Contract in Saudi Arabia
Contract Facilitated by Atheeb NetSol Ltd., the Company's Saudi Arabia Based Joint Venture, Further Strengthens NetSol's Customer Presence in the Middle East Market
EMERYVILLE, CA--(Marketwire - October 22, 2009) - NetSol Technologies, Inc. "NetSol" (NASDAQ: NTWK) (NASDAQ DUBAI: NTWK), a U.S. corporation providing global business
services and enterprise application solutions to private and public sector
organizations worldwide, today announced NetSol Asia Pacific was awarded a
new IT Services contract by Atheeb Intergraph Saudi Company (AISC) of Saudi
Arabia. The project is related to application development for AISC and
further strengthens NetSol's presence in the Middle East market. This
project was facilitated by Atheeb NetSol Ltd., the recently announced joint
venture between Atheeb Trading Company and NetSol Technologies, Inc.
Mr. Najeeb Ghauri, NetSol Technologies, Inc. Chairman and Chief Executive
Officer, commented, "With our global IT services delivery capabilities and
our extensive local knowledge as an established player in the region, the
dynamic growth and economic diversification underway in the Middle East
represents an excellent opportunity for NetSol. Building on this latest
customer win in Saudi Arabia, the ongoing development of our joint venture
company Atheeb NetSol Ltd., as well as a number of prominent Middle East
based customers, NetSol is particularly well positioned to increase its
market penetration within this key market."
According to the terms of the agreement, NetSol will build a Telecom
Operations Management System for AISC using the latest tools and
technologies, which will then be deployed by AISC to its existing customers
in the telecommunications domain. The services based project also contains
the potential for additional revenues in the future through product
implementation, maintenance and platform solution enhancements.
About NetSol Technologies, Inc.
NetSol Technologies, Inc. (NASDAQ: NTWK) (NASDAQ DUBAI: NTWK) is a
worldwide provider of global business services and enterprise application
solutions. Since its inception in 1995, NetSol has used its BestShoring™
practices and highly experienced resources in analysis, development,
quality assurance, and implementation to deliver high-quality,
cost-effective solutions. Specialized by industry, these product and
services offerings include credit and finance portfolio management systems,
hospital/healthcare information management systems (HIMS), SAP consulting
and services, custom development, systems integration, and technical
services for the global Financial, Healthcare, Insurance, Energy, and
Technology markets. NetSol's commitment to quality is demonstrated by its
achievement of the ISO 9001, ISO 27001, and SEI (Software Engineering
Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a
distinction shared by fewer than 100 companies worldwide. NetSol
Technologies' clients include Fortune 500 manufacturers, global automakers,
financial institutions, utilities, technology providers, and government
agencies. Headquartered in Emeryville, California, NetSol Technologies has
operations and offices in Adelaide, Bangkok, Beijing, Lahore, London, and
San Pedro Sula.
To learn more about NetSol Technologies, Inc., visit www.netsoltech.com
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NetSol Technologies, Inc. Forward-looking Statement
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Company's actual results include the progress and costs of the development
of products and services and the timing of the market acceptance.