QualityStocks would like to highlight NetSol Technologies, Inc. (NASDAQ: NTWK). NetSol Technologies 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.
In the company’s news yesterday,
NetSol Technologies announced an agreement to jointly acquire Virtual Lease Services (VLS), a London-based company that supports the finance and leasing industry in the United Kingdom. The acquisition is being shared with Investec Asset Finance Plc, which provides asset and loan finance services to corporate and professional firms in the UK, and will be owned 51% by NetSol and 49% by Investec Asset Finance.
VLS services 30 financing and leasing customers in the UK, with portfolio management, distressed portfolio analysis and recovery, standby servicing requirements, and related services. The company already uses NetSol’s LeaseSoft software for lease processing, and the acquisition will give VLS increased access to NetSol’s technological expertise together with the financial strength of Investec.
The president of NetSol Technologies Americas and Europe, Naeem Ghauri, said of the agreement: “We have been considering leveraging our deep business process knowledge and worldwide proven systems capabilities for some time, and this is a great opportunity to expand our offerings and further distinguish ourselves from competitors.”
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
