NetSol Technologies Inc. has signed a contract valued at about $4 million with an independent used vehicle finance company in the United Kingdom to use its software.

The Calabasas software developer for the vehicle and equipment leasing markets will make available to the unnamed client its NFS Ascent finance platform, a subscription-based product that was chosen for its proven track record of use in foreign markets.

NetSol Chief Executive Najeeb Ghauri said this roll out marks the first for the Ascent platform in the United Kingdom.

“Going forward, we believe this agreement will serve as a springboard to garner interest and eventual business for NFS Ascent with other finance and leasing companies in the region,” Ghauri said in a statement.

The contract announcement was made on Monday. On Wednesday, shares of NetSol (NTWK) closed unchanged at $5.80 on the Nasdaq.