LAHORE - A local IT applications solution provider has announced the signing of a new contract valued at more than $100 million with a South African firm. The NetSol has announced that this contract, spanning a period of 5 years and maintenance and support for 10 years, will include the implementation of NFS Ascent in a new market of South Africa, bringing the geographical footprint of the service’s implementation to a total of 12 markets.

“This monumental deal will usher NetSol into a new phase and further cement our position as leaders in the domain of finance and leasing.” said Salim Ghauri, CEO, NetSol Technologies. “This deal is a testament to our continued commitment to innovation, excellence and promoting a culture within NetSol of constantly striving to do business in new and revolutionary ways. The reception of our latest and cutting edge product by giants of the asset finance and leasing shows that we are producing the best new products and services in the industry.”

NetSol Technologies globally launched its newest product, NFS Ascent,developed upon the latest architecture platform, with the future needs of auto captives and asset finance and leasing business in mind.

NetSol called upon its unique internal capabilities, honed over decades of experience and innovation to develop this unmatched platform which is being widely adopted by fortune 500 companies and smaller growth companies alike.

Speaking on the occasion Salim Ghauri stated “This agreement will prove to be transformative and groundbreaking for the Pakistani tech industry as it is possibly the largest ever contract awarded to local company for developing and deploying an enterprise grade platform.”