Pareteum Expands Customer Base in Asia with 3-year $50 Million Contract
Thailand’s One Development Establishes We Connect
Makes Mobility and Content Service Solutions Widely Available
NEW YORK, NEW YORK – PRNewswire – October 8, 2018 – Pareteum Corporation (NYSE American: TEUM), a cloud software platform company, today announced a $50 million contract with One Development, Thailand’s first mobile virtual network aggregator and enabler, and leader in the country’s growing mobile virtual network operator market. Pareteum’s cloud software platform will power One Development’s ability to offer a turnkey solution to the over 50 companies that have obtained a mobile virtual network operator license in Thailand.
Pareteum’s Global Software Defined Cloud (GSDC) enables One Development’s ability to provide flexible solutions for public and private enterprises in Thailand. Pareteum’s suite of options make analytics, billing, and branding tools function seamlessly, and makes them available for One Development’s customers. Pareteum’s SuperAPI serves up developer opportunities to customize content for consumers.
“Consumers in today’s digital economy require personalized and innovative services, while public and private enterprises are looking for complete lifecycle support for their digital models. Pareteum’s cloud software platform provides us the ability to deliver on these demands and move Thailand forward,” said One Development Chief Executive Officer Allan Rasmussen. “With a mobile penetration of 145 percent, the government has introduced Thailand 4.0, and public and private partnerships are subsidizing the Thai market’s move from a supply to a demand-driven focus.”
Manjot Mann, chief executive officer of Pareteum Asia added, “This contract with One Development moves us quickly and further along our growth path by establishing a market partnership. Pareteum is now on the map in Thailand, a market in Asia yet untapped by our company.”
Pareteum Executive Chairman and Principal Executive Officer Hal Turner commented, “One Development’s slogan is ‘We connect Thailand,’ and Pareteum is at the ready to help them do that; when our customers succeed, we succeed. With One Development in Thailand, we are literally connecting to a whole new world of customers and chances to make an impact in the global platform as a service space.”
About Pareteum Corporation:
Pareteum Corporation (NYSE American: 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, and the Netherlands. For more information please visit: www.pareteum.com.
About One Development:
One Development (Thailand) Company Limited, is the first mobile virtual network aggregator (MVNA), and mobile virtual network enabler (MVNE) in ASEAN. The company provides a flexible turnkey solution of expertise, connectivity, and technology, to launch and operate successful digital services to end-users. Led by highly qualified telco veterans, One Development has the ability to assist public and private enterprises, to build their own mobile virtual network operator (MVNO) service and help them reach their targets quicker an affordable. The company has its headquarter in Bangkok, Thailand. For more information please visit: www.weconnectthailand.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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