Global enterprise software and support provider NetSol Technologies announced an agreement today 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.”
California-based NetSol offers global IT and enterprise application solutions, including credit and finance portfolio management systems, custom development and integration, and associated technical services. As a preeminent SAP Services Partner, NetSol works closely with SAP, delivering SAP models and management solutions worldwide, along with SAP consulting and services. Clients include Fortune 500 manufacturers, global automakers, financial institutions, utilities, technology providers, and government agencies. NetSol has operations in San Francisco, London, Beijing, Bangkok, Lahore, Adelaide, and Riyadh.
NetSol’s product and services offerings have achieved ISO 9001, ISO 20000, ISO 27001, and SEI (Software Engineering Institute) CMMI (Capability Maturity Model) Maturity Level 5 assessments, a distinction shared by only 178 companies worldwide.
For more information, visit www.NetSolTech.com
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