NetSol's sister company signs major contract worth $30 million

MG News | August 10, 2018 at 10:43 AM GMT+05:00

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In a notification to PSX on August 10^th 2018m NetSol Technologies Limited informed that its sister company NetSol Tech (Beijing) Co. Ltd. in China signed a major new agreement with a tier-one auto captive finance company for implementation of NFS Ascent platform in China

This five-year contract with a new customer having strong presence in China as well as rest of the Asia-Pacific region, is valued at approximately $30 million.

NetSol Technologies Ltd. Pakistan also informed that they will directly benefit from this contract through provisioning of both license as well as major services to the sister concern for the implementation of NFS Ascent at the client site. This will result in generating impressive intercompany revenue over the period of five year as part of this major milestone contract.

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