NetSol announces $50mn extension deal with global auto captive

NetSol Technologies Limited (NETSOL), a leading software house in Pakistan, announced on Wednesday that it had signed a $50 million contract extension with a tier-one global auto captive.

The company announced this in a notice to the Pakistan Stock Exchange (PSX) without mentioning the name of the partner.

It said that the company had maintained a “strategic partnership with the customer since 1996”.

The agreement extends the customer’s use of Transcend Finance and includes maintenance and licensing fees for another four years, the notice said.

“The new contract builds on NETSOL’s earlier multi-country engagement, originally announced in 2015, when a contract was signed for over $100 million, under which NETSOL successfully implemented its platform across 12 markets.

With this extension, the customer secures ongoing access to Transcend Finance’s end-to-end lease and loan lifecycle capabilities, ensuring continued operational scalability and adherence to evolving regulatory and market demands.“

“Securing this $50 million extension is a significant milestone and a strong testament to the trust we have earned over nearly three decades of partnership,” said Naeem Ghauri, Co-Founder and President of NETSOL Technologies Inc.

“Since first engaging with them in 1996, we have grown together through changing economic cycles, regulatory shifts and technological evolution. Today, Transcend Finance powers its operations in 12 markets, and this new multi-year extension underscores its confidence in our ability to deliver mission-critical solutions at a global scale.”

“We are committed to supporting this long-standing partner’s strategic objectives and maintaining a powerful platform that aligns with future requirements,” said Asad Ghauri, Global Head of Sales and Group Managing Director at NETSOL Technologies Inc.

“This renewal reflects not only our past performance, but also the shared ambition driving our continued success.”

Earlier, NetSol inked an agreement worth over Rs500 million with the Government of Khyber Pakhtunkhwa to advance the province’s Paperless Government Project into its next phase.