NETSOL Technologies, a provider of AI-enabled solutions and services enabling OEMs, dealerships and financial institutions to sell, finance and lease assets, has signed a $50 million contract extension with a tier-one global auto captive, a long-standing customer with whom the company has maintained a strategic partnership since 1996. The total contract value is expected to be recognized over the four-year term and will support recurring revenue.
The agreement extends the customer’s use of Transcend Finance and includes maintenance and licensing fees. 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 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.
“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,” Naeem Ghauri, co-founder and president of NETSOL Technologies, said. “Since first engaging with them in 1996, we have grown together through changing economic cycles, regulatory shifts and technological evolution. Today, Transcend Finance powers their operations in 12 markets and this new multi-year extension underscores their confidence in our ability to deliver mission-critical solutions at global scale.”
Asad Ghauri, global head of sales and group managing director at NETSOL Technologies, said, “We are committed to supporting this long-standing partner’s strategic objectives and maintaining a powerful platform that aligns with future requirements. This renewal reflects not only our past performance, but also the shared ambition driving our continued success.”
