Established U.S. Competitive Local Exchange Carrier Chooses Pareteum for Global Connectivity to Power its Enterprise Business
• 3-year contract adds $2,000,000 to Pareteum backlog
• Customer adds global SIM capability through Pareteum’s Platform as a Service (PaaS) and Global Connectivity Solution for its enterprise MVNO services
• Demand for Pareteum’s cloud services from global MVNO market expected to reach $73 Billion by 2020
NEW YORK, NEW YORK, October 26, 2017 – Pareteum Corporation (NYSE American: TEUM), (“Pareteum” or the “Company”), the rapidly growing mobile Cloud Communications Platform company, today announced that it has been selected to provide global connectivity to an established U.S.-based competitive local exchange carrier (CLEC) and mobile virtual network operator (MVNO) serving the enterprise market. The 3-year contract is expected to add approximately $2,000,000 to Pareteum’s backlog.
Pareteum will supply its new customer with seamless connectivity solutions through its TEAX (TEUM Application Exchange Platform). Under the terms of the agreement, Pareteum will integrate its connectivity solution directly to the carrier’s network.
“We are very pleased to have been chosen to work with this established domestic CLEC to help them expand their MVNO offering,” said Vic Bozzo, CEO. “This customer, which has been building and selling its domestic network in the U.S. for over twenty years, is now enabled by Pareteum to truly expand its coverage and reach, and focus on enterprise customer acquisition and growth.”
Hal Turner, Pareteum’s Executive Chairman, commented, “As the telecommunications business rapidly evolves, both in the U.S. and globally, Pareteum is offering cloud-based platforms and solutions that serve and strengthen the most competitive, forward looking, and visionary telcos. Local telcos in the U.S. can now enter new markets around the globe and serve enterprises of all sizes, powered by Pareteum’s cloud-based solutions. The entire communications landscape is changing and by enabling this shift, Pareteum is becoming the world’s leading cloud communications platform provider.”
The global MVNO market is expected to reach $73 billion by 2020, according to Grand View Research, with global MVNO subscribers expected to exceed 300 million by 2020, at a CAGR of 10.7% from 2014 to 2020.
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.
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