NETSOL Technologies Secures $50 Million Contract Extension with Global Auto Captive
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 16 2025
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Source: Globenewswire
- Contract Renewal: NETSOL Technologies has signed a $50 million contract extension with a global auto captive, expected to recognize revenue over four years, further solidifying a strategic partnership that has existed since 1996.
- Platform Expansion: This agreement extends the customer's use of the Transcend Finance platform, including maintenance and licensing fees, ensuring operational efficiency and compliance across 12 markets.
- Market Adaptability: The modular architecture of Transcend Finance enables the customer to accelerate digital transformation and launch new business models, maintaining competitiveness in a rapidly evolving market.
- Long-term Trust: NETSOL's co-founder stated that this renewal is a strong testament to the trust built over nearly three decades, reflecting the customer's confidence in their ability to deliver mission-critical solutions at a global scale.
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About NTWK
NetSol Technologies, Inc. is a provider of information technology (IT) and enterprise software solutions primarily serving the global leasing and finance industry. The Company is engaged in licensing, subscriptions, modification, enhancement and support of its suite of financial applications, under the brand name NFS Ascent to businesses in the global finance and leasing space. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company’s products include transcend platform, digital retail, intermediary portals, originations, servicing, wholesale finance, and mobility solutions. Its solutions include asset finance, automotive finance, and equipment finance. Its solutions include Omni Point of Sale (Omni POS), Contract Management System (CMS), Wholesale Finance System (WFS), Otoz Platform, Appex Now, Mobile Point of Sale (mPOS), Mobile Field Investigator (mFI), Otoz Digital Retail, Otoz Mobility Orchestration, among others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
NETSOL Technologies Appoints New CFO
- Executive Appointment: NETSOL Technologies has appointed Sardar Abubakr as Chief Financial Officer effective January 20, 2026, indicating a strategic shift in financial management aimed at enhancing transparency and operational efficiency.
- Current CFO Transition: Current CFO Roger K. Almond will transition to Chief Accounting Officer, overseeing global accounting operations and the preparation of Forms 10-Q and 10-K, ensuring compliance and accuracy in financial reporting.
- Extensive Industry Experience: Prior to joining NETSOL, Sardar Abubakr served as Vice President of New Business Ventures and M&A at Jazz, a subsidiary of VEON Group, where he led strategic transactions and major restructuring, which is expected to bring new growth opportunities and market insights to NETSOL.
- Future Outlook: This executive change not only reflects NETSOL's commitment to financial management but may also lay the groundwork for the company's strategic development and market expansion, enhancing its competitiveness in the digital ecosystem.
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NETSOL Appoints New CFO Sardar Abubakr
- Executive Change: NETSOL Technologies has appointed Sardar Abubakr as Chief Financial Officer, succeeding Roger Almond who will transition to Chief Accounting Officer, effective January 20, aiming to enhance the company's financial management capabilities.
- Extensive Experience: Abubakr brings over 20 years of international leadership experience, most recently serving as Vice President of New Business Ventures and M&A at Jazz, a subsidiary of VEON Group, and his extensive industry background is expected to provide strategic financial guidance for NETSOL.
- Market Reaction: Following the announcement, NTWK shares traded down 1.61% in pre-market activity on Nasdaq, reaching $3.05, reflecting a cautious market sentiment regarding the executive transition, which may impact investor confidence.
- Future Outlook: With the new CFO's appointment, NETSOL may adjust its financial strategies and business expansion plans to adapt to the changing market environment and enhance overall competitiveness.
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