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NetSol reports LeaseSoft deal

19 January 2006  |  1599 views  |  0 Source: NetSol Technologies

NetSol Technologies, Inc. (NASDAQ: NTWK), a developer of proprietary software applications and provider of information technology (IT) services, announced today that it has finalized a multi-million dollar agreement with a major European financial institution for the installation of its LeaseSoft suite of software solutions developed for the asset-based leasing and finance industry.

Due to the competitiveness of the financial industry, a confidentiality agreement was signed and the name of the client can not be disclosed.

The project, which will begin immediately, will also generate incremental revenues over the next five years through additional license fees and annual support agreements.

"Our aggressive sales and branding program has introduced NetSol and its software products and services to new audiences in the European marketplace," commented NetSol Technologies Chairman, Najeeb U. Ghauri. "We are pleased with the traction achieved by our European team and are confident they will continue to capitalize on our new product branding efforts to expand our LeaseSoft customer base in Europe."

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