Pareteum Powers International Expansion for API Company with 3-Year Contract for Global Mobility Cloud Platform and Connectivity
• Continues to gain market traction in $66 billion global telecom API market
• Expanding and diversifying customer base
NEW YORK, NEW YORK, October 11, 2017 – Pareteum Corporation (NYSE American: TEUM), (“Pareteum” or the “Company”), the rapidly growing mobile Cloud Communications Platform company, today announced it has been awarded a 3-year contract for its Global Mobility Cloud services including international network enablement and connectivity from a growing application programming interface (API) company to help them expand internationally.
Using Pareteum’s Global Mobility Cloud Platform enables this customer to provide its enterprise subscribers a management platform for mobile subscribers and access to roaming networks. Pareteum will receive recurring monthly fees for subscribers on its platform, as well as transactional revenue each time one of them makes a data transaction through a connection to Pareteum’s API’s.
“Our customer is rapidly expanding globally and needed a partner with mobile network experience and a platform they could plug their API’s directly into to provide mobile enablement and connectivity,” stated Rob Mumby, Pareteum’s Chief Revenue Officer. “By continuing to leverage our platform and reach, Pareteum enables customers to penetrate new markets and gain seamless connectivity on any network, anywhere, anytime, without spending more capital.”
“We continue to see the API economy increase exponentially. Enterprise users are looking for increased integration to their applications and this innovative use of API technology allows for seamless integration between our platform and our new customers’ APIs. As the app economy grows, the integration through APIs grows, and the leaders in this space are starting to take shape,” stated Hal Turner, Executive Chairman of Pareteum. “We believe Pareteum is emerging as a leader in API enablement through our Global Mobility Cloud Platform.”
The global telecom API market was $66 billion in 2016 and is expected to grow at a CAGR of 22% to $219 billion by 2022.
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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