NETSOL Technologies Signs $16 Million Contract with Major Automaker to Transform US Dealership Operations
NETSOL Technologies, Inc. (Nasdaq: NTWK), a global leader in providing cutting-edge solutions for the asset finance and leasing industry, has announced a significant new agreement with a leading automaker to revolutionize its US dealership operations. The five-year, $16 million contract encompasses the customization, implementation, deployment, and ongoing SaaS subscription of Otoz, NETSOL’s omnichannel digital retail platform.
“We are thrilled to collaborate with one of the world’s leading automakers to enhance the car sales and purchase process for their dealerships and customers,” said Naeem Ghauri, President of NETSOL Technologies and Founder of Otoz. “Building off the recent US-market traction with MINI Anywhere and AutoNation Mobility, this new partnership is a monumental milestone for the Otoz platform, underscoring the transformative potential of NETSOL’s competence in redefining digital retail experiences and aligning with the evolving demands of the automotive sector.”
Ghauri highlighted the rapid growth in the US automotive OEM and dealership segment, with a series of new agreements fueling this momentum. “We anticipate further growth and development for Otoz in this fiscal year and beyond,” he added. “We are uniquely positioned to capture market share with comprehensive solutions spanning from digital retail to auto finance.”
NETSOL’s Otoz platform brings unprecedented flexibility to auto and equipment dealerships through its headless, API-first architecture. This innovative approach ensures seamless integration with essential dealership operations, while maintaining best-in-class security and compliance standards.
About NETSOL Technologies
NETSOL Technologies is a global leader in delivering advanced solutions for the asset finance and leasing industry, serving automotive OEMs, autocaptives, and financial institutions across more than 30 countries. Since its inception in 1996, NETSOL has been at the forefront of technology, pioneering innovations in asset finance solutions and leveraging advanced AI and cloud services to meet the complex needs of the global market. Renowned for its deep industry expertise, customer-centric approach, and commitment to excellence, NETSOL fosters strong partnerships with its clients, ensuring their success in an ever-evolving landscape. With a rich history of innovation, ethical business practices, and a focus on sustainability, NETSOL is dedicated to empowering businesses worldwide, securing its position as a trusted partner for leading firms around the globe.
Forward-Looking Statements
This press release may contain forward-looking statements relating to the development of the Company’s products and services and future operational 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,” and variations of such words and similar expressions identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 market acceptance. The Company expressly disclaims 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.
Investor Relations Contact:
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+1 203-972-9200
Source: yahoo Finance
