NetSol signs $50M, four-year contract extension with global auto captive

NETSOL Technologies (NTWK) has signed a $50 million contract extension with a tier-one global auto captive. 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 successfully implemented its platform across 12 markets.