Pareteum to Power Latin American Expansion of One of World’s Largest CPaaS Companies
• 3-year contract scheduled to add $3,000,000 to Pareteum backlog
• New customer’s 30,000,000-plus enterprise messages into Latin America to be delivered directly to mobile phones via Pareteum’s Global Mobility Cloud
NEW YORK, NEW YORK, October 27, 2017 – Pareteum Corporation (NYSE American: TEUM), (“Pareteum” or the “Company”), the rapidly growing mobile Cloud Communications Platform company, today announced that it has been awarded a cloud services contract with one of the world’s largest Communications Platform as a Service (CPaaS) companies. Pareteum’s newest customer offers cloud communications, global messaging, application programming interfaces (APIs) and Internet of Things (IoT) services that enable businesses to communicate with their customers, workforce and machines. Pareteum’s Global Mobility Cloud Platform enables this new customer to seamlessly provide mobile connectivity to its messaging customers in Latin America, its newest geographic market. The 3-year contract is scheduled to add $3,000,000 in revenues to Pareteum’s revenue backlog.
“Our customer is delivering pioneering technology and business innovation to its enterprise customers and Pareteum’s Global Mobility Cloud Platform helps them extend their offerings, wherever they originate on any network, anywhere,” stated Vic Bozzo Pareteum’s CEO. “We are delighted to welcome this new customer to our Global Mobility Cloud and expect this contract to grow in size as APIs are increasingly used for everything in corporate life.”
“Pareteum is signing new customers and contracts at an unprecedented pace because of the clear value we deliver to global communications companies that are seeking further expansion and growth, in the most efficient way possible on a unified platform. Leveraging our cloud platform, we save our customers time and money while expanding their revenue opportunities. We expect to see increasing demand in this space,” commented Hal Turner, Pareteum’s Executive Chairman.
“The CPaaS market for worldwide voice and text messaging alone is forecast to reach $8.2 billion in 2021. On a broader view, the ability to monetize the use of IoT through applications, which was estimated at $50 billion in 2016 and expected to grow to $101 billion by 2020, means that billions of applications are communicating with each other every day bringing an exponential growth in the amount of data and communication that will require connectivity,” Mr. Turner concluded.
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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