Contact Information: Contacts: Investor Relations Christopher Chu Grayling Tel: +1-646-284-9426 Email: christopher.chu@us.grayling.com
NetSol Technologies Awarded Contract Valued at $2 Million From Major Chinese Automotive Finance Company
Latest Contract Win Further Supports the Recent Announcement on the Expansion of NetSol's China Presence, With Several New Opportunities in the Pipeline
| Source: NetSol Technologies
CALABASAS, CA--(Marketwire - December 9, 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 the company was awarded a major
software and IT services contract with a new joint venture auto finance
company based in China. Under the terms of the contract, NetSol will
provide full life-cycle processing for the customers' auto finance business
through the NetSol Financial Suite (NFS). NetSol's NFS solution provides
asset finance companies a state-of-the-art tool to manage business process,
work flow framework as well as complete portfolio management and
processing. The value of the contract is in excess of $2 million over the
life of the agreement, including customization, implementation, maintenance
and support.
Naeem Ghauri, NetSol Technologies, Inc. president and head of global sales,
commented, "The Chinese automotive finance sector is growing exponentially
and our NFS solution is on the cutting edge of this growth. As we
previously announced, we are aggressively expanding our Chinese presence to
support existing as well as new business opportunities. We expect the
growth in our China business will help in significantly enhancing our
revenues and earnings over the previous fiscal year."
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 Calabasas, 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
To join the NetSol Technologies, Inc. email communications list, visit:
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NetSol Technologies, Inc. Forward-looking Statement
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development of the Company's products and services and future operation
results, including statements regarding the Company that are subject to
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materially from those projected. The words "believe," "expect,"
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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.