Back to the blog.

March 19, 2018

Print/Save as PDF

Pareteum Awarded $2.4 Million Contract from Established Global Mobile Operator


Pareteum Awarded $2.4 Million Contract from Established Global Mobile Operator
3 Year Contract Enables a New Model to Service Global Data Subscribers

NEW YORK, NY – PRNewswire – March 19, 2018 – Pareteum Corporation (NYSE American: TEUM), (“Pareteum” or the “Company”), the rapidly growing Cloud Communications Platform company, announced today that it has signed a 3-year contract with an established global Mobile Virtual Network Operator to provide connectivity and service through its Global Cloud Services Platform (GCSP). Pareteum’s GCSP enables data applications to the retail global traveling customers of its services provider MVNO customer, now with one global connection managed by the Pareteum Cloud.

Pareteum’s newest Communication Service Provider (CSP) customer is a Branded MVNO providing advertising subsidized global data plans which facilitate applications in most worldwide locations with concentration in Europe, Africa and the US. This new 3-year contract facilitates a broader range of data services and applications single sourced from Pareteum’s Global Cloud Services Platform (GCSP). The contract increases Pareteum’s 36-Month Contractual Revenue Backlog by $2.4 Million. Existing subscribers of the Branded MVNO customer will be initially migrated to Pareteum’s platform, and, newly acquired subscribers will be added to Pareteum’s platform as our customer continues to grow.

Vic Bozzo, CEO of Pareteum stated, “Pareteum’s Global Cloud Services Platform is a perfect fit for the contract with our newest global client. Recent product enhancement added functionality to our services that allow us to deliver connectivity and services through a singular solution. It’s these enhancements that empower a brand like this to grow and expand while maintaining high quality of service for their customers as they transit multiple networks.”

Hal Turner, Executive Chairman and Principal Executive Officer of Pareteum, stated, “Mobile data will account for more than half of global roaming revenues by 2019 – Ovum forecasts data roaming to generate approximately US$50bn in revenues by 2019, contributing 56% to total roaming revenues, compared to 47% in 2014. Operators around the world are rolling out their LTE networks and finalizing LTE roaming agreements to be able to monetize next-generation data roaming opportunities. Our “TEUM” is uncovering these opportunities across the globe. Never before has a single solution providing ubiquitous coverage, a fully flexible and integrated platform, free of geographical boundaries been available to the market.”

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. Our platform services partners (technologies integrated into our Cloud) include: HPE, IBM, Sonus, Oracle, Microsoft, and other world class technology providers. All of the relevant customer acquired value is derived from Pareteum’s award winning software, developed and enhanced for many years. 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:

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.

Contractual Revenue Backlog Definition:
Contractual revenue backlog is measured on a forward looking 36 month snapshot view monthly, and, is generated by each of the Company’s Managed Services, Global Mobility 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 recurring revenue. There can be no assurances that we reach the total revenue backlog. The revenue backlog assumes timing of revenue recognition that may vary from actual results.

Pareteum Investor Relations Contacts:
Ted O’Donnell
Chief Financial Officer
(212) 984-1096

Hayden IR
(917) 658-7878