NEW YORK, April 27, 2017 /PRNewswire/ -- Pareteum
Corporation (NYSE MKT: TEUM), ("Pareteum" or the "Company"), a
leading international provider of mobile networking software and
services to the Mobile Network and Internet of Things markets,
today announced that its Global Mobility Cloud Platform has been
chosen by THYNGS Wireless, LLC as its Internet of Things ("IoT")
management and connectivity platform under a new three-year
agreement.
THYNGS Wireless, LLC, a newly launched multi-SIM based IoT
solution for the Smart City future is launching with KAPTYN, a
leading Smart Mobility company whose growing portfolio of
technology contracts has taken them to four US cities including 90%
of the Las Vegas taxi market,
boasting over 60 million rides since inception and 2,000 cars in
service at any given time. KAPTYN also holds presence in
New York, becoming one of the
first vendors approved for the NYC Taxi and Limousine Commission's
Vehicle Safety Technology Pilot Program. Under terms of the
three-year agreement, THYNGS will utilize Pareteum's Global
Mobility Cloud Platform to provide wireless network connectivity
and device data management in support of new and existing KAPTYN
IoT deployments.
"THYNGS and KAPTYN share our vision of a connected world. Each
day, millions of devices become vital sources of information that
can help monitor and improve the efficient operations of our cities
and the health and welfare of their citizens, and we are pleased to
have been selected to support these visionary organizations as they
deploy their IoT programs," said Hal
Turner, Pareteum's Executive Chairman.
KAPTYN is led by Andrew Meyers,
Co-founder and Chief Executive Officer, a seasoned veteran of the
for-hire transportation sector who's strategic vision is to drive
KAPTYN's growth and development by providing the Taxi industry the
tools necessary to compete in the new digital demand-driven
world.
"Connectivity and software is extremely applicable to the heart
of the car. We're creating a foundation of codes that is adaptable
to any specific need of the industry. Our software is designed to
make a credible sync with the vehicle itself, which is able to
exchange data with the insurance provider and manufacturer. Going
forward the commercial sector needs to be able to build with the
sync in the car itself and not third party devices, that's exactly
what KAPTYN provides," added Andrew
Meyers.
Sergio Fernandez de Cordova,
investor & Co-founder of THYNGS and KAPTYN, commented, "The
opportunity of IoT is vast as its benefits are becoming clearer to
municipalities looking to modernize their infrastructure to connect
all things to fleet operators such as taxis and buses where our
technology is helping to improve safety and convenience. After our
evaluation of available solutions in the marketplace, we chose
Pareteum's Global Mobility Cloud because it allows us to uniquely
leverage a single platform combining multi-location wireless
connectivity with a robust subscriber management system which
enables us to better support our growing network of devices today
and into the future."
"Earlier this year we significantly upgraded the capabilities of
our Global Mobility Cloud Platform, enabling support for advanced
messaging functionality required by internet-enabled and connected
devices such as IoT. Today's contract is further evidence that the
industry is beginning to take notice of our new capabilities,
something we are committed to building into a valuable new revenue
stream for the Company," added Vic
Bozzo, Chief Executive Officer of Pareteum.
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, SaaS and IoT markets. Mobile Network
Operator (MNO) customers include Vodafone, the world's second
largest mobile operator by customer count, Zain, the 4th largest
mobile operator in the world in terms of geographical presence and
other Tier 1 operators, MVNO customers such as Lebara and Lowi, and
partners including Cleartech and Expeto. For more information
please visit: www.pareteum.com.
About THYNGS Wireless
THYNGS Wireless, LLC provides
comprehensive, innovative, smart, secure and reliable, multi-SIM
based IoT solutions to cities throughout the world and specific
industry segments such as energy, automotive, industrial,
hospitality, healthcare, retail, entertainment and financial
services. Today, THYNGS' portfolio of clients/partners are enabling
municipalities, smart city and fleet operators, providing safer
services for employees and customers in addition to more secure and
cost effective transactions for all operators in the IoT vertical
with a SIM based connectivity solution. For more information please
visit: www.thyngswireless.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.
Shareholder Contact:
Steve Gersten
(813)
926-8920
InvestorRelations@Pareteum.com
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SOURCE Pareteum Corporation