Pareteum Awarded Contract from China-Focused MVNO in First Sale Resulting from Strategic Alliance & Teaming Agreement with Artilium
• First of numerous contracts expected to expand the scope, reach and scale of both companies via the strategic alliance
• Contract adds over $1,000,000 to Pareteum’s 36-month contractual revenue backlog
NEW YORK, NEW YORK, November 28, 2017 – Pareteum Corporation (NYSE American: TEUM), (“Pareteum” or the “Company”), the rapidly growing mobile Cloud Communications Platform company, and Artilium plc (LSE/AIM: ARTA), earlier this year created a strategic alliance and teaming agreement to jointly pursue new and developed markets, and create accelerated growth and market penetration for both companies. As a result of the collaboration, Pareteum announced today it has been awarded a 3-year contract to provide Communications Platform as a Service (CPaaS) to a Mobile Virtual Network Operator (MVNO) focused on cross-border mobile service in China and North America. Pareteum is receiving 100% of revenues from the contract, which is scheduled to add over $1,000,000 to Pareteum’s 36 month contractual revenue backlog.
Under the terms of the agreement, Pareteum’s Global Mobility Cloud Platform will empower the customer to service the needs of its subscribers with connections in China and North America. These services will initially include messaging and data, and later expand into other offerings.
Vic Bozzo, CEO of Pareteum stated, “Through this contract, we are enabling our new customer’s China-based subscribers to connect and transact on their mobile devices anywhere in the world. Pareteum is powering this new customer to expand its subscriber revenues through global connectivity and data, without the need for investment in infrastructure or software.”
Bart Weijermars, CEO and Executive Director of Artilium commented, “This strategic alliance with Pareteum enables Artilium to leverage our strong presence and reach in global markets, particularly in Asia and Africa. While we have access to a broad base of potential customers in these geographic markets, by offering Pareteum’s industry-leading Global Mobility Cloud Platform, we are able to sign more customers and at an accelerated pace to the benefit of Pareteum, Artilium and our joint customers.”
Hal Turner, Founder and Executive Chairman of Pareteum stated, “This contract is the first of many we expect from our strategic alliance with Artilium. From reach into new geographic markets, to the creation and distribution of new products, we believe our teaming alliance adds unprecedented scope to both companies. We’ve had a noteworthy beginning to our strategic alliance. This bodes well for our joint sales and product plans for 2018 and our ability to capture new business in exciting new geographic areas, as well as provide expanded services for connectivity, mobility, and the digital transactions that require the scale of our cloud offerings and payment capabilities.”
“Together, Pareteum and Artilium are making ‘connections’ happen. Connections is the new industry term used to replace and reflect the combination of subscribers, SIM cards, devices, Internet of Things (IoT), and equivalent uses of software utilized per transaction. Through 2021, connections, including IoT will grow by an estimated 23% compound annual growth rate (CAGR). Developing markets such as Asia and Africa are poised to become major drivers of this global growth,” Turner added.
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.
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