Pareteum Awarded $76 Million in Additional Three-Year Agreements
November Contracts Add 11 New Brands
NEW YORK – Nov. 29, 2018 – Pareteum Corporation (Nasdaq: TEUM), a cloud software platform company, today announced that it has added 11 additional three-year agreements in November 2018 totaling $76 million in 36-month contractual revenue backlog.
The new agreements include the following:
- B2B, B2C and internet of things (IoT) applications served by a large, regional mobile virtual network operator based in the U.S.;
- IoT applications host and B2B sales by a large, national mobile virtual network operator based in the U.S.
- International roaming and mobile services with worldwide coverage by a Luxembourg-based mobile virtual network operator;
- Integrated telecommunications solutions that includes voice, data, mobile money and network services by Kenya-based telecommunications operator;
- Connectivity solutions for phone manufacturer of small phones that limit use to calls and nine speed dials;
- Cloud platform solutions for one-touch dialing, and international network connectivity company;
- Connectivity for a U.S. national cell phone carrier and wireless network provider;
- Mobile text messaging bridged with classic voice-based landline for a fully integrated solution;
- GPS tracking solutions for parents and their children with phones by wireless provider;
- Voice, SMS, data and mobile services by U.K.-based telecommunications provider and mobile network operator; and,
- Mobility and connectivity services for multi-channel assets, allowing clients to connect with their customers and stakeholders via a South Africa-based mobile virtual network operator.
“Pareteum continues to grow our client base and to expand to accommodate the needs of clients with the latest software platform services provided by the Global Software Defined Cloud,” said Rob Mumby, chief revenue officer of Pareteum. “Our offering will transform businesses as Pareteum continues to grow and expand to accommodate needs of the market.”
Pareteum Executive Chairman and Principal Executive Officer Hal Turner commented, “Pareteum is a growth company. Our customers win repeatedly when using our global software defined cloud services platform. Our existing customers continue to expand their services with us, affirming our mission of connecting any device, any network, anywhere, and providing demonstrable value to our customers and stakeholders.”
About Pareteum Corporation:
Pareteum Corporation (Nasdaq: TEUM) is a rapidly growing Global Software Defined Cloud company with a mission to connect “every person and everything.” Organizations use Pareteum to energize their growth and profitability through our Global Software Defined Cloud and complete turnkey solutions featuring relevant content, applications, and connectivity worldwide. Our cloud 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 leading Global Software Defined Cloud, delivering award-winning mobile enablement, regardless of the user’s location or network. By harnessing the value of communications, Pareteum serves retail, enterprise and IoT customers. Pareteum currently has offices in New York, São Paulo, Madrid, Barcelona, Bahrain, Singapore, Indonesia, Germany, Belgium, United Kingdom and the Netherlands. For more information please visit: www.pareteum.com.
Contractual Revenue Backlog Definition:
Contractual Revenue Backlog, or just Backlog, a Non-GAAP measure is measured on a forward looking 36-month snapshot view monthly, and, is generated by each of the Company’s Managed Services, Global Software Defined 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 contractual revenue. There can be no assurances that we reach the total contract revenue backlog. Timing of revenue recognition may vary from actual results.
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.
Pareteum Investor Relations Contacts:
Chief Financial Officer
+1 212 984 1096
+1 917 658 7878
European- Global IR
+1 416 837 0075