Pareteum’s November Customer Deployments Accelerate
Initiates Services for Eight Customers
NEW YORK – Nov. 27, 2018 – Pareteum Corporation (Nasdaq: TEUM), a cloud software platform company, today announced that it has initiated services in November 2018 for eight previously-awarded contracts that represent $38.7 million of the existing $500 million in its 36-month contractual revenue backlog, and therefore contributing to the company’s revenue recognition.
Some of the service deployments include the following:
- Roaming, airtime, voice and SMS throughout Mexico with a national mobile virtual network operator;
- Mobile enablement solutions for consumer and B2B solutions for enterprise and banking customers with a UK-based, full-service mobile provider;
- Mobility and e-commerce via one integrated software applications view, enabling Singapore-based provider of worldwide concierge and travel solutions to expand its existing partnerships with Asian airports that facilitate mobile services to enterprise customers;
- Internet of things (IoT) enablement of mobility, messaging and security for multi-million dollar economic development investment in Kyiv City Smart City;
- Insights engine and predictive analytics application to help Eastern European-based broadband provider create unique, on-demand plans and bundles tailored for their end-customers ranging from high data-only plans to quad play plans, including streaming, gaming and wireless services; and,
- Manages services platform enables large base of existing subscriber to move to new platform and add new mobile subscribers for mobile virtual network operator in the EMEA.
“Pareteum seeks to give our clients the best customer service as we roll out software solutions for them as part of our Global Software Defined Cloud and Super API,” said Vic Bozzo, chief executive officer of Pareteum.
Pareteum Executive Chairman and Principal Executive Officer Hal Turner commented, “As a rapidly growing software and communications services company, Pareteum provides transformative solutions to businesses through our applications and global connectivity platform, enabling our customers to achieve and exceed their market plans. The increasing rate of customers seeking us for their software, communications services and global connectivity requirements is a vivid daily reinforcement of our mission.”
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