NetSol Technologies Inc. on Thursday announced a new division that will target the cloud computing market.

The Calabasas provider of IT and enterprise software said that NetSolCloudVM will offer subscription-based, infrastructure-as-a-service products, starting first in the North America market.

“We made a calculated decision to enter this growing market given our years of experience as a software developer, the minimal investment required, and the revenue potential,” Chief Exeutive Najeeb Ghauri said in a statement.

The company currently serves global clients in the automotive, financial, utilities and technology industries. The service will launch later this month with Imran Haider, chief operating officer of NetSol North America, heading the division.

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