NetSol Technologies Signs New European Contract to Implement Wholesale Finance System for a Netherlands-Based Finance Company
Win Marks Entry for NetSol Financial Suite (NFS) Into the European Market, Providing New Momentum in the European Channel Finance Sector
EMERYVILLE, CA -- (MARKET WIRE) -- 07/06/09 -- NetSol Technologies, Inc. "NetSol" (NASDAQ: NTWK) (NASDAQ DUBAI: NTWK), a U.S. corporation providing global business services and enterprise application solutions to private and public sector organizations worldwide, today announced that a Netherlands-based company, focused on the wholesale commercial finance sector, has selected NetSol's Wholesale Finance System offering, within the NetSol Financial Suite (NFS), for their Channel Finance business in Europe.
Naeem Ghauri, President and Head of Global Sales for NetSol Technologies Inc., commented, "We are delighted to announce this new European client win for our Wholesale Finance System suite. By working in close partnership with our new client we will deliver robust wholesale finance system capabilities to handle many different types of assets, as well as combining our invoice financing functionality into a single, fully integrated, solution. Europe is a market with huge potential for channel finance and NetSol's multi-asset, multi-lingual, and multi-party system is uniquely designed to help our client realize exceptional results in a highly flexible environment."
About NetSol Technologies, Inc.
NetSol Technologies, Inc. (NASDAQ: NTWK) (NASDAQ DUBAI: NTWK) is a worldwide provider of global business services and enterprise application solutions. Since its inception in 1995, NetSol has used its BestShoring(TM) practices and highly experienced resources in analysis, development, quality assurance, and implementation to deliver high-quality, cost-effective solutions. Specialized by industry, these product and services offerings include credit and finance portfolio management systems, hospital/healthcare information management systems (HIMS), SAP consulting and services, custom development, systems integration, and technical services for the global Financial, Healthcare, Insurance, Energy, and Technology markets. NetSol's commitment to quality is demonstrated by its achievement of the ISO 9001, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a distinction shared by fewer than 100 companies worldwide. NetSol Technologies' clients include Fortune 500 manufacturers, global automakers, financial institutions, utilities, technology providers, and government agencies. Headquartered in Emeryville, California, NetSol Technologies has operations and offices in Adelaide, Bangkok, Beijing, Lahore, London, and San Pedro Sula.
To learn more about NetSol Technologies, Inc., visit www.netsoltech.com
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NetSol Technologies, Inc. Forward-looking Statement
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 "believe," "expect," "anticipate," "intend," variations of such words, and similar expressions, identify forward-looking statements, 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.
Contacts: Investor Relations Christopher Chu Grayling Tel: +1-646-284-9426 Email: christopher.chu@us.grayling.com
Released July 6, 2009