CALABASAS, Calif., Oct. 10, 2013 (GLOBE NEWSWIRE) -- Following the launch of its mobility division and related enterprise software products, NetSol Technologies, Inc . (Nasdaq: NTWK ) today announced that a global luxury car manufacturer and finance company is implementing NetSol's mPOS (mobile point of sale) solution across its dealer network in China. Subsequent implementations in other markets are also being planned as per the agreement.
A first-of-its-kind solution for the finance and leasing industry, mPOS allows auto dealers to perform the contract origination process using a mobile device. One of several new mobility products recently introduced, NetSol's mPOS comes equipped with a detailed intelligence dashboard, quick-quote loan calculator, as well as application submission and collaboration tools.
"This is a revolutionary product and a sure value to the auto industry. We look forward to becoming the first IT company in this domain to implement a mobility solution across a vast dealer network," said Najeeb Ghauri, CEO, NetSol Technologies, Inc. "NetSol was selected as a preferred vendor because of our strong record of building long-lasting partnerships with our customers, along with our extensive experience implementing financial solutions in international markets."
The agreement includes product licensing as well as on-site implementation and maintenance services. More information on NetSol's mobility products can be found by visiting: mobility.netsoltech.com
About NetSol Technologies
NetSol Technologies, Inc. ( www.netsoltech.com ) is a worldwide provider of global IT and enterprise application solutions that include credit and finance portfolio management systems, SAP consulting and services, custom development, systems integration, and technical services for the global Financial, Leasing, Insurance, Energy, and Technology markets. Headquartered in Calabasas, Calif., NetSol's product and services offerings have achieved ISO 9001, ISO 20000, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a distinction shared by only 178 companies worldwide. The company's clients include Fortune 500 manufacturers, global automakers, financial institutions, utilities, technology providers, and government agencies. NetSol has delivery and support locations in San Francisco, London, Beijing, Bangkok, Lahore, Sydney and Riyadh.
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.
| Investor Contacts: |
| PondelWilkinson |
| Roger Pondel | Matt Sheldon |
| investors@netsoltech.com |
| (310) 279-5980 |
| Media Contacts: |
| PondelWilkinson |
| George Medici | gmedici@pondel.com |
| (310) 279-5968 |
