Pareteum Announces Go-Live Implementation of its Global Mobility Cloud Platform by its New Customer Pronto Telecommunications
• Generating recurring revenue stream for Pareteum through IoT, M2M and Advanced Messaging services
NEW YORK, August 10, 2017 – Pareteum Corporation (NYSE American: TEUM) (“Pareteum” or the “Company”), a leading communications technology provider to global Mobile, MVNO, Enterprise and IoT markets, today announced the successful implementation of its Global Mobility Cloud Platform by its new customer, Pronto Telecommunications, a converged voice and data applications solution provider serving Telcos, ISPs, Cable Operators and other Service Providers.
Pronto Telecommunications’ CEO Avery Abrams commented, “We chose Pareteum’s Global Mobility Cloud Platform because it provides capabilities not currently offered in the marketplace. Pareteum helped us expand from our traditional terrestrial and satellite business into high-margin, high-demand cloud based services. We are pleased that the implementation process with Pareteum has been highly productive and efficient.”
“With this live launch, we welcome Pronto as a customer of Pareteum’s powerful cloud-based solutions. Pronto has global reach into over 100 countries, where it serves a customer base and channel partners that can benefit from the Internet of Things (IoT) and Machine-to-Machine (M2M) applications enabled by our cloud platform,” said Vic Bozzo, Chief Executive Officer of Pareteum.
Pareteum’s Executive Chairman Hal Turner added, “This is the latest example of how our sales, development, and engineering teams effectively sold, implemented and went live with a new customer, enabling turn-key sales of products and recurring revenue streams. We are pleased with the accelerating momentum and pace at which Pareteum is onboarding customer and channel partners, extending our global sales reach. IoT and M2M are two of the fastest growing segments in our industry. Revenues for telecom operators from IoT and M2M are on track to reach $1 billion on an annual basis in the next few years and Pareteum is positioned to aggressively capture a growing portion of this market.”
About Pronto Telecommunications:
Pronto Telecommunications is a premier provider of International Voice, and Unified Communications solutions for Tier 1 Carriers and startup MVNOs. Pronto offers turn key, customizable cloud-based applications including voice, data, and IoT that enhance the launch and operation of MVNOs. Pronto’s converged billing platform allows MVNOs to claim market share, while operating as a traditional MNO or as GLOBAL SIM Provider in over 100 countries. Pronto’s capabilities are derived from a unique mix of license and infrastructure assets and partnerships with sector-leading software companies and Network Providers. Pronto is committed to delivering best-in-class products backed by a geo-redundant network paired with industry-leading uptime and customer service. Headquartered in Pittsburgh, Pennsylvania, Pronto Telecommunications also has regional offices in Canada. For more information on Pronto Telecommunications, please visit: www.prontotelecommunications.com.
About Pareteum Corporation:
Pareteum Corporation and its subsidiaries provide a complete mobility cloud platform, utilizing messaging and security capabilities for the global Mobile, MVNO, Enterprise, Software-as-a-Service and IoT markets. The Company’s software solutions allow any organization to harness the power of a wirelessly connected world by delivering seamless connectivity and subscriber management capabilities that provides end-to-end control of millions of connected devices. Mobile Network Operator (MNO) customers include Vodafone, the world’s second largest mobile operator by customer count, Zain, one of the largest mobile operators in the Middle East, as well as MVNO customers such as Lebara and Lowi. For more information please visit: www.pareteum.com.
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.
Chief Financial Officer