NetSol Begins Building Tech Campus in Pakistan

NetSol International Inc. of Calabasas said it has begun the first phase of development for its new technology campus in Lahore, Pakistan.

Phase 1, which will accommodate about 600 engineers, programmers and other staff, is scheduled to be completed the middle of this year.

The technology campus will be composed of various departments, including administrative services, engineering, software programming, and research and development. When completed, it will employ up to 3,000, including programmers, developers and engineers.

The company also announced the acquisition of Abraxas Software Ltd., an Australian automotive finance and insurance software developer, in exchange for 150,000 shares of NetSol’s restricted common stock. The new company--NetSol-Abraxas, Australia--is headquartered in South Australia.

NetSol is a software developer specializing in e-commerce and Web-based solutions for a worldwide market.