RTTNews | Apr 27, 2021 10:15AM EDT

10:15 Tuesday, April 27, 2021 (RTTNews.com) - Shares of IT and enterprise software solutions provider NetSol Technologies, Inc. (NTWK) are surging more than 28% Tuesday morning on the news of it securing a 5-year, multi-million-dollar renewal contract from its existing tier-one Japanese automotive customer.

As per the agreement, this customer in Thailand will continue to license certain key components of NETSOL's NFS Retail platform, including its NFS Credit Application Processing System (CAP) and NFS Contract Management System (CMS).

"This customer has been a market leader in the financing and leasing of commercial vehicles and pickup trucks in Thailand for some time, and we're looking forward to building our already-strong working relationship for years to come," said NETSOL President and Otoz CEO Naeem Ghauri. "On a broader level, this renewal further solidifies our standing in Thailand and across Asia-Pacific as the preferred business partner for auto captives and finance and leasing companies in the region."

NTWK touched a new high of $6.12 this morning, before slipping to trade at $5.52 currently.

Read the original article on RTTNews ( https://www.rttnews.com/3188556/stock-alert-netsol-technologies-soars-28-on-multi-mln-contract-renewal.aspx)

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