Netsol bids for Pakistan C2, army digitization project
12:00 AM, July 17, 2009
NetSol Technologies, Inc. "NetSol" (NASDAQ: NTWK) (NASDAQ DUBAI: NTWK), today announced that NetSol Defense Division (NDD), a business unit of NetSol Technologies, Inc., is teaming with a top 5 U.S. defense contractor to jointly respond to Pakistan Ministry of Defense request for proposals. In line with this teaming agreement, NetSol has jointly submitted a bid for the digitization of the Pakistan military forces as well as an automated command and control system. The contract bid, which has been jointly developed and submitted, is estimated to be in excess of $350 million over an estimated five plus years. Under the proposed program, NetSol seeks to provide system development and local country integration support as well as flexible follow on services using expert resources within Pakistan. The contract, if awarded, would be jointly implemented as a single team providing defense services to meet the customer requirements. The proposed bid will be reviewed, along with other submitted proposals, by the appropriate Pakistani authorities. "We are extremely pleased to be teaming with a major U.S. based military contractor to jointly pursue large scale military modernization solutions," said Najeeb Ghauri, NetSol Technologies, Inc. Chairman and Chief Executive Officer. "Our teaming agreement and joint bid activity for this major defense contract reflects NetSol Technologies' success in consolidating its standing as one of the preferred solutions providers for the Pakistan military as well as defense organizations seeking to provide complex integrated defense solutions within the region. We have been working diligently to cater specifically to the growing demands in this domain and to deliver services with the professionalism and reliability that epitomizes NetSol's CMMI Level 5 standing".
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