Press Releases

WFS Ascent Goes Live for a Global German Auto Manufacturing Giant in Australia

CALABASAS, Calif., Feb. 27, 2017 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. (Nasdaq:NTWK), a leading global provider of enterprise application solutions and business services to the finance and leasing industry, today announced it successfully implemented its next generation wholesale finance system, WFS Ascent, for a notable German Auto Manufacturing giant in Australia. The wholesale system went live on the February 6, 2017.

The systems implementation in Australia is part of a previously announced contract between NETSOL and the German Auto manufacturer signed on December 21, 2015. The contract includes implementations, license, maintenance, services and expected customization fees for the Ascent platform across 12 Asia Pacific countries. The implementation in Australia is the second country to go live after New Zealand in the deployment roll out plan.

“I am pleased to say that NETSOL successfully completed this deployment for our largest customer on a very impressive timeline,” said Najeeb Ghauri, Founder, Chairman & Chief Executive Officer NETSOL Technologies. “We constantly push our own limits and capabilities for continued improvement, which enables us to provide more value to our business partners, each and every time.

Ghauri added, “We have worked closely with this business partner for decades and developed an understanding at an institutional level. This mutual understanding enables us to deliver successful implementations and create value for each other through innovation.”   

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 1,500+ professionals placed in eight strategically located support and delivery centers throughout the world. NFSTM, LeasePakTM, LeaseSoft or NFS AscentTM – help companies transform their Finance and Leasing operations, providing a fully automated asset-based finance solution covering the complete leasing and finance lifecycle."

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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.

Contact:
William Maina
ICR
investors@netsoltech.com
(646) 277-1236

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Source: NETSOL Technologies, Inc.