NEW YORK, May 8, 2019 /PRNewswire/ -- Pareteum
Corporation (Nasdaq: TEUM), a rapidly growing global cloud
software communications platform company with a mission to
connect every person and every(thing)TM, today
announced it has acquired Devicescape, the San Francisco-based mobile location and
engagement solutions provider.
The acquisition equips Pareteum customers, including IoT and
communications service providers, B2C brands, and smartphone
application developers, to engage and connect end users and devices
at countless public places across the world.
The Devicescape software solution triggers presence alerts when
devices enter venues, allowing Pareteum customers to deliver
location-specific mobile engagements such as in-application
advertising, coupons, or reminders. It also enables the collection
of unique and highly valuable first-party location data.
These location-targeted end user experiences are powered by
Devicescape's Curated Virtual Network (CVN), a software-based
aggregation of pre-existing Wi-Fi access points situated in
millions of places worldwide.
The patented CVN software adds beacon functionality without the
need for new infrastructure by automatically tagging each access
point with rich contextual data, including geographic location,
venue type, venue name, and performance quality.
Additionally, the software crowd-sources the discovery of new
access points and venues. This adds a unique and continuously
expanding layer of location intelligence to the Pareteum Cloud
Platform and Smart Network.
The acquisition strengthens Pareteum's intellectual property
portfolio considerably, with the addition of 33 patents globally,
and adds key engineering and executive talent, including
Devicescape CEO Dave Fraser, and CTO
John Gordon.
Hal Turner, Executive Chairman
and Principal Executive Officer at Pareteum commented, "This latest
acquisition adds another dimension to the experiences Pareteum is
able to power for our communication service providers, Smart City,
and IoT customers through our Super API. Location awareness is set
to become fundamental to mobility services and Devicescape is an
excellent fit with our cloud software-based, infrastructure-free
model for the provision of compelling connected experiences. I am
delighted to welcome Dave and his staff to the TEUM."
"I am excited that Devicescape has become part of Pareteum, not
least because of our shared ambition to provide customers with
everything they need to create connected services which will change
the way people experience and interact with their world," said
Dave Fraser, CEO at Devicescape. "I
look forward to working with Hal and the TEUM to make this vision a
reality."
"The acquisition of Devicescape will be fully accretive from day
one," said Pareteum President Denis
McCarthy, who is leading the acquisition process. "It
enhances our engineering capability as we continue to accelerate
customers into production, and it promises to drive yet more of the
innovation which keeps customers buying from us."
About Pareteum Corporation:
Millions of people and devices are connected around the world using
Pareteum's Global Cloud Communications Platform, enhancing their
mobile experience. Pareteum unleashes the power of applications and
mobile services, bringing secure, ubiquitous, scalable, and
seamlessly available voice, video, SMS/text messaging, and data,
media and content enablement to our customers, making worldwide
communications services easily and economically accessible to
everyone. By harnessing the value of our cloud communications
platform, Pareteum serves enterprises, communications service
providers, early stage innovators, developers, IoT, and
telecommunications infrastructure providers. Pareteum envisions a
new mobile communications experience imagining what will be, and
delivering now. Pareteum currently has offices in North America, South
America, Spain,
Bahrain, Singapore, Indonesia, Germany, Belgium, United
Kingdom, Russia, and
the Netherlands. For more
information please visit: www.pareteum.com.
About Devicescape:
Devicescape uses the world's largest Wi-Fi beacon network to
deliver the power of high-accuracy consumer presence detection to
app and SDK publishers. With independent reach into millions of
places of interest, Devicescape presence awareness creates
monetization and value-add opportunities at every end user visit.
Whether for data gathering, attribution, high-performance in-venue
location advertising, or automatic connectivity, Devicescape
delivers the power of presence everywhere it counts.
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.
Media Inquiries
Press@pareteum.com
Pareteum Investor Relations Contacts:
Ted O'Donnell
Chief Financial Officer
+1 646 810 2182
InvestorRelations@pareteum.com
Michael Bloom
Investor Relations
michael.bloom@pareteum.com
Allise Furlani
The Blueshirt Group
blueshirt.group@pareteum.com
Carrie Howes
Rayleigh Capital
European- Global IR
+1 416 837 0075
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SOURCE Pareteum Corporation