Pareteum Awarded $3 Million Contract to Add Mobility to Established South American Data Network Provider
New Five-Year Contract Provides Consumer, Internet of Things and Enterprise Mobile Platform Services
Adds over 300,000 Connections at Full Deployment
NEW YORK, NY – PRNewswire – January 17, 2018 – Pareteum Corporation (NYSE American: TEUM), (“Pareteum” or the “Company”), the rapidly growing Cloud Communications Platform company, announced today that it has been awarded a five-year $3 million contract for implementation of its Managed Services Solution with a South American provider of communications solutions with over 20 years of successful market experience.
Pareteum’s Managed Services Platform, our longest provided in-service product (over ten years of commercial use), delivers the value generating software based Intellectual Property of TEUM. This includes: web portal, E-commerce platform, subscriber management, end user and back-office billing, carrier settlement systems (supporting Blockchain management, with multi-currency and crypto payments support), and Intelligent network management, with self-care portal services. It is our intelligent network, with our Home Location Registry (HLR), delivered as a service that manages the core mobile network. The agreement, when fully deployed and implemented, will service over 300,000 connections in multiple countries.
Vic Bozzo, CEO of Pareteum commented, “This is a significant milestone for the company once again extending our platform reach to tap into new markets, extend our connectivity map, add new connections and partner with well-established networks and service providers to open new revenue streams. Our sales team continues to drive us forward.”
Hal Turner, Executive Chairman and Principal Executive Officer of Pareteum stated, “This win continues to demonstrate how we as a company understand the needs of the new global digital economy, and deliver a communications platform software suite of services (CPaaS), offering affordable solutions to our growing roster of communication service providers (CSPs). It is the Pareteum services solution that is the heart of CSPs’ consumer retail and business customer offerings with great margins derived through the channel. The competitive landscape in South America, coupled with the large underserved communities, is an ideal fit for our deployment model, which brings the technology and services right to the doorstep of subscribers. Service providers, brand marketing companies and incumbents alike no longer have to suffer through painstakingly long service integrations and deployment cycles to enter a market or launch their service offerings. With our solution, the pathway to revenue is clear, and the roadmap to the latest services and capabilities, with advanced payments and settlement, are assured.”
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.
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