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NetSol Technologies, Inc. (NTWK) Forms Atheeb NetSol Limited with Atheeb Group of Saudi Arabia

NetSol Technologies, Inc., long renowned the world over for providing highly specialized solutions custom-tailored to the given industry of a client via business services and enterprise applications, in accordance with the Company’s proprietary BestShoring™ model, recently announced alongside Middle East partner Atheeb Group the official operational launch of the Atheeb NetSol Limited joint venture.

A real milestone, both for the rapidly accreting Middle East IT services/software development market, and for the Company, is signified with the formalization and official operational launch of Atheeb NetSol Limited; which is to be focused on developing localized/market-specific opportunities while obtaining software engineering market penetration in key areas like telecoms, defense, public sector operations and finance.

Atheeb NetSol Limited aims to flourish by leaning into the strong localized infrastructural hand already possessed by Atheeb with its robust network of private, public and governmental customers in the region, while using the energy liberated from the application of NTWK’s sophisticated project management, customer support, training services, R&D, and the software engineering capacity of the Company’s CMMI Maturity Level 5 rating for process design certified Center of Excellence to propel itself forward.

This joint venture move comes swiftly on the heels of earlier development efforts realized in the award of an IT services contract to NetSol Asia Pacific by Atheeb Intergraph Saudi Company (AISC) of Saudi Arabia.

Recently, at Atheeb Group’s world HQ, the first board meeting of Atheeb NetSol Limited took place, chaired by Chairman and CEO of Atheeb Group, HRH Prince Abdulaziz Bin Ahmed Bin Abdulaziz AlSaud, and attended by Chairman and CEO of NTWK, Mr. Najeeb U. Ghauri, as well as other members of the board. The meeting successfully ratified a 5-year business and operations plan while also creating a 7-member team to be based in Riyadh and tasked with discrete management.

HRH Prince Abdulaziz Bin Ahmed Bin Abdulaziz AlSaud hailed the new joint venture as a unique and amazing strategic opportunity for both companies to realize substantial revenue generation in what is “one of the strongest economies in the world”, projecting the clear vision of creating a “CMMI level 5 model company” and tackling mid- to large-sized IT projects the kingdom and Gulf Cooperation Council (GCC) markets.

The Prince confirmed the fully operational status of the new joint venture for meeting outsourced IT services/software development regionally, and expressed excitement about the potential of this partnership for seizing a dominant market footprint.

Mr. Najeeb U. Ghauri thanked the Prince on behalf of the global NTWK team of professionals and expressed how honored the Company is to have the opportunity to partner with a premier Middle Eastern diversified conglomerate like Atheeb, and how reassuring it is to have the Prince’s dynamic and visionary leadership to oversee infrastructural expansion into the Kingdom of Saudi Arabia, one of the most capitalized and opportunity-rich markets in the world.

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