Digital Brand Management Company Selects Pareteum to Deliver Subscriber Messaging and Marketing Content
• Pareteum receives a fee for every message delivered between the enterprise brand and its mobile subscribers
• 3-year contract adds an additional $1,000,000 to $114 million 36-month contractual revenue backlog
NEW YORK, NEW YORK, November 6, 2017 – Pareteum Corporation (NYSE American: TEUM), (“Pareteum” or the “Company”), the rapidly growing mobile Cloud Communications Platform company, today announced that it has been awarded a 3-year contract, scheduled to add approximately $1,000,000 to the Company’s $114 million 36-month contractual revenue backlog, by a digital brand management communications company. Pareteum’s Global Mobility Cloud Platform delivers instant messaging services that connect wireless subscribers to receive and send messages anytime from anywhere. This breakthrough is a step toward independence from being tied solely to one network.
Under the terms of the agreement, Pareteum receives a fee for every connection that is made between the brand and its mobile subscribers who have elected to receive messages and notifications directly to their phone. Connections can be made to and from call centers and marketing companies to subscribers for purposes ranging from security to brand awareness campaigns. The customer is currently delivering messaging and marketing content for advertisers including luxury brands, as well as delivering messages for social media campaigns, municipalities, schools, and first responders.
The aim of digital brand management is to manage the customer’s experience in receiving and responding to information. Customer experience management solutions, particularly via smartphones, are increasingly being used for this purpose. According to a recent report, the market for these digital solutions is projected to grow from $6 billion in 2017 to $17 billion by 2022, a CAGR of 23%. Pareteum’s Global Mobility Cloud Platform serves this market by delivering global connectivity, enabling seamless digital content delivery on any device, anywhere, on any network.
“Our customer and the brands they manage are currently making millions of mobile connections daily. Prior to this contract, a connection to every network and mobile carrier was necessary to deliver global coverage. By adopting the Pareteum Global Mobility Cloud as their platform, they can make one connection and have a more expansive and direct mobile network reach to optimize their monetization of transactions,” stated Vic Bozzo Pareteum’s CEO.
“The growing use of Pareteum’s Application Exchange and Developers Platform Services, delivered via our Global Mobility Cloud, is strategically important to the explosive opportunity to link applications and content to people based upon their interests, needs, and preferences. This continued ‘uberization’ of telecommunications and software via mobile services is Pareteum’s specialty, and customers appreciate the choice, with the value we bring them,” said Hal Turner, Principle Executive Officer and Board Chairman of Pareteum.
About Pareteum Corporation
The mission of Pareteum Corporation (NYSE American: TEUM) is to connect “every person and everything.” Organizations use Pareteum to energize their growth and profitability through cloud communication services and complete turnkey solutions featuring relevant content, applications, and connectivity worldwide. By harnessing the value of communications, Pareteum serves retail, enterprise and IoT customers. Pareteum currently has offices in New York, Sao Paulo, Madrid, Barcelona, Bahrain, and the Netherlands. For more information, please visit: www.pareteum.com.
Forward Looking Statements:
Certain statements contained herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to Pareteum’s plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about Pareteum’s industry, management’s beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of Pareteum may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, Pareteum also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from those projected or suggested in Pareteum’s filings with the Securities and Exchange Commission, copies of which are available from the SEC or may be obtained upon request from Pareteum Corporation.
Contractual Revenue Backlog Definition:
Contractual revenue backlog is measured on a forward looking 36 month snapshot view monthly, and, is generated by each of the Company’s Managed Services, Global Mobility Cloud, and Application Exchange & Developer’s Platform customers. The Pareteum multi-year Software-as-a-Service agreements include service establishment and implementation fees, guaranteed minimum monthly recurring fees, as well as contractually scheduled subscribers, in some cases including subscriber usage, during the term of the agreement, and, their resulting monthly recurring revenue. There can be no assurances that we reach the total revenue backlog. The revenue backlog assumes timing of revenue recognition that may vary from actual results.
Pareteum Investor Relations Contact:
Chief Financial Officer