NETSOL Signs Multi-Million Dollar Agreement with Leading Japanese Equipment Finance Company in Australia

Rhea-AI Summary

NETSOL Technologies, Inc. (NTWK) has entered a multi-million dollar agreement with a leading Japanese agricultural and industrial equipment manufacturer for its operations in Australia. This contract involves the deployment of NETSOL's NFS Ascent Retail technology platform, including Omni Point-of-Sale and Contract Management System. The client is already utilizing NETSOL’s solutions in New Zealand and has opted for additional services such as Self POS, mPOS, and Mobile Account. The implementation is expected to take 12 to 14 months. CEO Najeeb Ghauri expressed enthusiasm about expanding the partnership.

Positive

• Multi-million dollar contract enhances revenue potential.
• Existing client relationship with operations in New Zealand indicates trust in NETSOL's solutions.
• Deployment of advanced technology platform NFS Ascent may strengthen market position.

Negative

• None.

CALABASAS, Calif., Feb. 16, 2023 (GLOBE NEWSWIRE) -- NETSOL Technologies, Inc. (Nasdaq: NTWK), a global business services and enterprise application solutions provider, has signed an agreement with the finance division of a leading global agricultural and industrial equipment manufacturer based in Japan. The contract relates to its operations in Australia.

The multi-million dollar contract is for the deployment of NETSOL’s premier technology platform NFS Ascent Retail, which consists of Ascent Omni Point-of-Sale (Omni POS) and Ascent Contract Management System (CMS). The client, who is already using NETSOL’s solutions in New Zealand, has also selected NFS Digital touchpoints including Self Point-of-Sale (Self POS), Mobile Point-of-Sale (mPOS) and Mobile Account (mAccount). The implementation timeline is expected to be twelve to fourteen months.

“We are excited to formally announce this agreement with a major Japanese equipment finance provider to deploy NFS Ascent for use in their operations throughout Australia,” said Najeeb Ghauri, Founder and CEO of NETSOL Technologies, Inc. “NFS Ascent is an unrivaled, next-generation platform for the global equipment and asset finance and leasing industry, and this company is already an NFS Ascent customer, using our technology for their operations in New Zealand. We are pleased that they have again chosen our products, and we look forward to further expanding our partnership and supporting them in their future business initiatives.”

About NETSOL Technologies
NETSOL Technologies, Inc. (Nasdaq: NTWK) is a worldwide provider of IT and enterprise software solutions primarily serving the global leasing and finance industry. The Company’s suite of applications is backed by 40 years of domain expertise and supported by a committed team in eight strategically located support and delivery centers throughout the world. NFS, LeasePak, LeaseSoft or NFS Ascent® – help companies transform their Finance and Leasing operations, providing a fully automated asset-based finance solution covering the complete finance and leasing lifecycle.

Forward-Looking Statements
This press release may contain forward-looking statements relating to the development of the Company's products and services and future operation 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,” variations of such words, and similar expressions, identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, but their absence does not mean that 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. The subject Companies expressly disclaim 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:

IMS Investor Relations
netsol@imsinvestorrelations.com
+1 203-972-9200

FAQ

What is the significance of the new contract for NTWK?

The contract represents a multi-million dollar opportunity for NTWK, enhancing its revenue potential through a partnership with a major global equipment manufacturer.

Which technology platforms will NTWK deploy for the Japanese client?

NTWK will deploy its NFS Ascent Retail technology platform, including Omni Point-of-Sale and Contract Management System.

How long is the implementation timeline for the new contract?

The implementation timeline for the new contract is expected to be 12 to 14 months.

Is the Japanese client already using NETSOL's solutions?

Yes, the client is already using NETSOL’s solutions in New Zealand before this new agreement.

What are the benefits of the NFS Ascent platform for NTWK?

NFS Ascent offers advanced technology for the equipment finance and leasing industry, potentially improving operational efficiency and client satisfaction.