CALABASAS, Calif., May 23, 2013 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. (Nasdaq:NTWK), a worldwide provider of global IT and enterprise application solutions, today announced that it has signed an agreement to implement NetSol Financial Suite's Credit Application Processing and Contract Management System modules with a leading multi-finance company in Southeast Asia, which currently manages more than one million live contracts generated through its network of 1,000+ dealerships.
The new agreement is valued at more than $4 million for the first phase of development and includes product licenses, business processes consulting fees and on-site implementation services. Additional revenue streams include maintenance, support and product enhancements. The name of the company was not disclosed as per the customer's request.
"This new contract represents the robust demand for our finance and leasing solution and is a major win for the team," said Najeeb Ghauri, CEO of NetSol. "The additional resources we have added over the past few quarters across the Asia Pacific region allow us to capture new opportunities such as this agreement and support larger deals in our pipeline while at the same time providing superior customer service."
About NetSol Technologies
NetSol Technologies, Inc. (www.netsoltech.com) is a worldwide provider of global IT and enterprise application solutions that include credit and finance portfolio management systems, SAP consulting and services, custom development, systems integration, and technical services for the global Financial, Leasing, Insurance, Energy, and Technology markets. Headquartered in Calabasas, Calif., NetSol's product and services offerings have achieved ISO 9001, ISO 20000, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a distinction shared by only 178 companies worldwide. The company's clients include Fortune 500 manufacturers, global automakers, financial institutions, utilities, technology providers, and government agencies. NetSol has delivery and support locations in San Francisco, London, Beijing, Bangkok, Lahore, Adelaide and Riyadh.
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