NEW YORK, July 20, 2017 /PRNewswire/ -- Pareteum
Corporation (NYSE MKT: TEUM), ("Pareteum" or the "Company"), a
leading communications technology provider to global Mobile, MVNO,
Enterprise and IoT markets, today announced that it has been
awarded two new cloud services contracts from UK-based
Communications Service Providers (CSP's) for its on-demand hosted
Home Location Register (HLR) services. This marks the second and
third customers for its HLR-as-a-Service product, which was
announced in May 2017. These new three-year contracts represent
more than 50,000 new subscriber equivalents and an additional
$1,000,000 to Pareteum's current
revenue backlog.
These new customers will utilize the subscriber database
management and billing capabilities of TEUM Global Mobility Cloud
Platform to manage their end users' mobile devices. In addition to
increasing sales through these new relationships, Pareteum benefits
by extending its coverage area for TEUM Global Connection, our
mobile connectivity solution, by leveraging the networks of these
customers.
"We are delighted to welcome these new customers to TEUM Global
Mobility Cloud Platform. There has been significant interest from
prospective customers since this product was announced. Many
service providers have begun to look at TEUM Global Mobility Cloud
Platform to cost-effectively outsource their subscriber management
functionality and increase their revenues without having to invest
in additional staff or internal sub-systems," stated Rob Mumby, Pareteum's SVP Worldwide Sales.
"Virtualized services are a new source of revenue for Pareteum and
the opportunity in this market sector will continue to drive the
expansion we seek.
"Billions of connected devices are coming online, driven by new
IoT services. Exponential growth is expected in the data
communicated among multiple subscriber networks. All of this
information requires metering, charging, billing and reporting to
assure proper payments among the networks and their subscribers.
These are the capabilities that are inherent in TEUM's Software as
a Service offering. We firmly believe that the need for our
flexible infrastructure platforms, including TEUM Global Mobility
Cloud Platform, will dramatically expand," said Hal Turner, Executive Chairman of Pareteum.
"Pareteum's solutions continue to demonstrate an ability to disrupt
the traditional model of mobile communications service
delivery."
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.
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 Contact:
Ted O'Donnell
Chief Financial Officer
(212) 984-1096
InvestorRelations@pareteum.com
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SOURCE Pareteum Corporation