September 10, 2024 – Calabasas, California – NETSOL Technologies, Inc. (Nasdaq: NTWK), a global leader in delivering innovative solutions for the asset finance and leasing industry, has announced a significant new agreement with a longstanding customer and major automaker to support their operations in China. The five-year contract extension, valued at over $30 million, marks a pivotal moment for NETSOL, reinforcing its strong presence in the Asia-Pacific region.
This strategic expansion is expected to drive consistent revenue growth for NETSOL starting in fiscal 2025, with the potential to contribute to double-digit growth moving forward.
Najeeb Ghauri, Founder and CEO of NETSOL Technologies, expressed his enthusiasm for this milestone, stating, “We are delighted to deepen our partnership with one of our key clients, a major automaker, to further support their operations in China. This agreement signals a new phase of growth for NETSOL as we broaden our scope in the Asia-Pacific market, where we have already established a strong foothold.” Ghauri further added, “The contract is a testament to the trust our clients place in us and highlights the value we deliver to their business.”
Amanda Li, President of NETSOL China, also emphasized the significance of the deal. “NETSOL China continues to lead the market with a dominant share in the country. Securing this contract is a proud achievement, reflecting our long-term commitment to delivering exceptional service to our clients. The agreement will nearly double the revenue we receive over the contract’s duration, which includes providing onsite support, handling change requests, and offering annual maintenance services.”
About NETSOL Technologies
Founded in 1996, NETSOL Technologies is a global leader in providing cutting-edge solutions for the asset finance and leasing industry. The company serves automotive OEMs, auto captives, and financial institutions across more than 30 countries. With a reputation for pioneering innovations, NETSOL leverages advanced AI and cloud services to meet the increasingly complex demands of its clients. Known for its customer-centric approach and industry expertise, NETSOL remains committed to driving excellence, fostering long-lasting partnerships, and empowering businesses in a rapidly evolving global market.
Forward-Looking Statements
This press release contains forward-looking statements regarding the development of NETSOL’s products, services, and future operations. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Forward-looking statements are identified by terms like “expects,” “anticipates,” and other similar expressions. These statements are not guarantees of future performance, and factors such as the progress and costs of product development may impact results. NETSOL assumes no obligation to update or revise these forward-looking statements to reflect future events or circumstances.
Source: NETSOL Technologies
