NETSOL signs $16 Million Agreement with Major Automaker to Revolutionize Digital Car Buying and Leasing Experience in the United States
ENCINO, Calif., July 16, 2024 (GLOBE NEWSWIRE) -- NETSOL Technologies, Inc. (NASDAQ:NTWK), a global leader in delivering state-of-the-art solutions for the asset finance and leasing industry, has signed an agreement with a major automaker to transform its US dealership operations. The $16 million, five-year contract is for the customization, implementation, deployment, and ongoing SaaS subscription of Otoz, NETSOL's omnichannel digital retail platform.
"We are thrilled to collaborate with one of the world's leading automakers to enhance the car sales and purchase process for their dealerships and customers," said Naeem Ghauri, President NETSOL Technologies and Founder of Otoz. "Building off the recent US-market traction with MINI Anywhere and AutoNation Mobility, this new partnership is a monumental milestone for the Otoz platform, underscoring the transformative potential of NETSOL's competence in redefining digital retail experiences and aligning with the evolving demands of the automotive sector."
"We have seen aggressive growth in the US automotive OEM and dealerships segment with a string of new agreements. We anticipate further growth and development for Otoz in this fiscal year and beyond," he added. "We are uniquely positioned to capture market share with comprehensive solutions spanning from digital retail to auto finance," he concluded.
NETSOL's Otoz brings unparalleled flexibility to auto and equipment dealerships through its headless, API-first, architecture. This innovative approach ensures seamless integration with a dealerships' essential operations, all while maintaining best-in-class security and compliance standards.
About NETSOL Technologies
NETSOL Technologies is a global leader in delivering state-of-the-art solutions for the asset finance and leasing industry, serving automotive OEMs, autocaptives and financial institutions across over 30 countries. Since its inception in 1996, NETSOL has been at the cutting edge of technology, pioneering innovations with its asset finance solutions and leveraging advanced AI and cloud services to meet the complex needs of the global market. Renowned for its deep industry expertise, customer-centric approach and commitment to excellence, NETSOL fosters strong partnerships with its clients, ensuring their success in an ever-evolving landscape. With a rich history of innovation, ethical business practices and a focus on sustainability, NETSOL is dedicated to empowering businesses worldwide, securing its position as the trusted partner for leading firms around the globe.
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