NetSol Technologies Signs Two New Agreements in China to Provide Finance and Leasing Software Solution
September 29 2015 - 08:30AM
NetSol Technologies, Inc. (Nasdaq:NTWK), a global business services
and enterprise application solutions provider, was selected by
Taiwan Acceptance Corporation Finance Leasing Co., Ltd. ("TAC
Leasing"), an entity approved by the China Ministry of Commerce,
and Yulon Auto Finance Company ("Yulon"), an entity approved by the
China Banking Regulatory Commission, to implement applications of
the NetSol Financial SuiteTM. Both companies are affiliated with
the Taiwan Acceptance Corporation, and Yulon is the first auto
finance company in China to receive investment from the Taiwan
Group.
TAC Leasing will implement the NetSol Financial Suite Credit
Application Processing System (CAP) and Contract Management System
(CMS) for retail business operations. Yulon will implement CAP, CMS
and the Wholesale Finance System (WFS) as its core business
solution. The agreements have a combined value of approximately
$3.0 million, which include business process consulting,
customization and on-site implementation services, and are expected
to be completed within the next six months.
"We are proud to have been selected by TAC Leasing and Yulon to
help further their growth objectives in China," said Najeeb Ghauri,
CEO of NetSol. "These new contracts further our market leadership
position in the asset finance and leasing sector in China, and
represent the trust in our people, process and systems to manage
vital business functions. With new companies entering the market
and the encouragement of financing and leasing by the Chinese
government, we remain highly confident about our prospects moving
forward."
In 2015, NetSol was awarded "First Rate and Best Selling Finance
and Leasing Solution Provider" at the annual China Leasing Summit
for the third consecutive year.
About NetSol Technologies
NetSol Technologies, Inc. (Nasdaq:NTWK) is a worldwide provider
of IT and enterprise software solutions primarily serving the
global leasing and financing industry. The Company's suite of
applications are backed by 40 years of domain expertise and
supported by a committed team of more than 1000 professionals
placed in eight strategically located support and delivery centers
throughout the world. To sign up to receive news alerts and
regulatory filing notifications, please
visit http://ir.netsoltech.com/email-alerts.
Forward-Looking Statements
This press release may contain forward-looking statements
relating to the development of the Company's products and services,
future operation results, the market in China, implementation time
frames, 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 Contacts:
PondelWilkinson Matt Sheldon |
investors@netsoltech.com (310) 279-5980
Media Contacts:
PondelWilkinson George Medici |
gmedici@pondel.com (310) 279-5968
NetSol Technologies (NASDAQ:NTWK)
Historical Stock Chart
From Feb 2024 to Mar 2024
NetSol Technologies (NASDAQ:NTWK)
Historical Stock Chart
From Mar 2023 to Mar 2024