NetSol Technologies Inks $100M Contract

Stephen L Kanaval |

NetSol Technologies (NTWK) expanded a contract with a long standing customer that is valued at $100 million. The contract includes tech upgrades and maintenance to NetSol’s NFS Ascent platform that reaches from Australia, China, Hong Kong, India, Japan, New Zealand, Singapore, South Korea, Taiwan, Thailand and Malaysia. An additional platform is being added in South Africa with a 10-year lifespan. Here is what CEO Najeeb Ghauri said of the deal:

“This is a transformative agreement for NetSol, representing the largest contract in the company’s history, and a strong endorsement for NFS Ascent from a nearly two-decade-long partnership with our client…The agreement also reflects their trust in NetSol and our talented technology professionals. The significant investments we made in our infrastructure and staffing are paying off and building leverage into our business.”



The NFS Ascent manages leasing/financing cycles from the beginning to the end of an assets origination to final sale. The system tracks a company’s auto and equipment finance or leasing with additional calculators and notification that are available for service teams. Here is a video that goes into further detail about what they do:

This global business service provider was already awarded a rating of excellence in China, where they recently closed a $3 million deal with Taiwan Acceptance Corporation Finance Leasing Co. Ltd. However, the majority of its contracts are with big automakers like Nissan, Ford, Mercedes, Toyota, and Volkswagen. Furthermore, the four software applications under NFS have been designed and developed for a high performance setting, and deals with multinational, multi-company, multi-asset, multi-lingual, multi-distributor and multi-manufacturer environments. This is a global company for a global world. Take for example that Netsol has a global delivery center in Lahore, Pakistan. In addition, this company has multiple revenue buckets to pull from: license fees, maintenance fees, and service fees. Lastly, and most importantly, its most recent quarterly earnings results beat expectations and Zacks Investment Research upgraded their stock to “buy.”

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
NTWK NetSol Technologies Inc. 4.03 -0.03 -0.62 16,687 Trade

Comments

Emerging Growth

GSV Capital Corp

GSV Capital Corp is an externally managed, non-diversified closed-end management investment company. The Company has elected to be treated as a business development company.

Private Markets

Trustify

Trustify provides trust and safety in both the digital and physical worlds through our vast network of on-demand Private Investigators.By removing the large retainers and high hourly rates that traditional…

8tracks

Our mission is to be the best place for people who care about music to create and discover thoughtfully curated playlists. In essence, 8tracks is a platform for online mixtapes.