ENCINO, Calif., July 16, 2024 (GLOBE NEWSWIRE) — NETSOL Technologies, Inc. (Nasdaq: NTWK), a global leader in delivering state-of-the-art solutions for the asset finance and leasing industry, has signed an agreement with a major automaker to transform its US dealership operations. The $16 million, five-year contract is for the customization, implementation, deployment, and ongoing SaaS subscription of Otoz, NETSOL’s omnichannel digital retail platform.
“We are thrilled to collaborate with one of the world’s leading automakers to enhance the car sales and purchase process for their dealerships and customers,” said Naeem Ghauri, President NETSOL Technologies and Founder of Otoz. “Building off the recent US-market traction with MINI Anywhere and AutoNation Mobility, this new partnership is a monumental milestone for the Otoz platform, underscoring the transformative potential of NETSOL’s competence in redefining digital retail experiences and aligning with the evolving demands of the automotive sector.”
“We have seen aggressive growth in the US automotive OEM and dealerships segment with a string of new agreements. We anticipate further growth and development for Otoz in this fiscal year and beyond,” he added. “We are uniquely positioned to capture market share with comprehensive solutions spanning from digital retail to auto finance,” he concluded.
NETSOL’s Otoz brings unparalleled flexibility to auto and equipment dealerships through its headless, API-first, architecture. This innovative approach ensures seamless integration with a dealerships’ essential operations, all while maintaining best-in-class security and compliance standards.
