Pareteum Awarded $6 Million Contract from Established Mobile Virtual Network Operator
Managed Service Platform Enables Expansion of Applications into U.S. and Caribbean
NEW YORK, NEW YORK – PRNewswire – June 11, 2018 – Pareteum Corporation (NYSE American: TEUM), (“Pareteum” or the “Company”), the rapidly growing Cloud Communications Platform company, announced today that an established provider of pre-paid communications plans has selected Pareteum’s Managed Service Platform with a $6 million agreement over 3 years.
This global mobile service provider will use Pareteum’s Managed Service Platform (MSP) as a single source for metering, rating, provisioning and delivery, billing and collection services, as they expand their reach into the US and the Caribbean. The provider, and their customers, will benefit from Pareteum’s Insights Engine, which will collect and interpret predictive analytics to create a variety of tailored service packages, designed specifically to suit the needs of their customers.
“This new customer specifically chose Pareteum because of our Managed Service Platform, the single source solution possessing the ability to govern a multitude of services around the world. Pareteum’s MSP solution is designed to provide the flexibility necessary to create need-specific plans as well as the power to monitor, administrate and bill plans the provider needs to satisfy existing customers and grow their future customer base,” commented Vic Bozzo, Chief Executive Officer of Pareteum.
Hal Turner, Pareteum’s Executive Chairman and Principal Executive Officer, stated, “Pareteum continues to empower our global customers that require open mobility and open applications. Our customer’s abilities to use our applications programming interfaces (API’s) and platforms to create new software services, applications, and business models, all based upon worldwide connectivity and communications services, are the foundations for our great customer service.”
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. Our platform services partners (technologies integrated into our cloud) include: HPE, IBM, Ribbon Communications (Sonus+GenBand), NetNumber, Oracle, Microsoft, and other world class technology providers). All of the relevant customer acquired value is derived from Pareteum’s award winning software, developed and enhanced for many years. 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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