NEW YORK, March 15, 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)™, today announced ten
new customers have executed three-year contracts during early
March 2019, valued at $17 million in the company's expanding 36-month
contractual revenue backlog (36MCRB). These new customer
transactions span Europe,
Africa, US and Asia, and include software communications
platform service offerings from the company's recent acquisitions
of iPass and Artilium.
New agreements signed in early March
2019 include:
- Cloud communications platform and connectivity services for a
European Mobile Virtual Network Operator (MVNO)
- Cloud communications platform for a US-based provider of
connected wearable devices
- Short Message Service (SMS) solution for a global SMS provider
located in Hong Kong
- Short Message Service (SMS) solution for a digital agency based
in West Africa
Chief Revenue Officer Rob Mumby
added, "We are seeing a fantastic response to our enhanced and
expanded offering across all sectors. I am confident we will
continue to gain traction with our market-leading cloud services as
we move towards the next quarter."
Executive Chairman and Principal Executive Officer of Pareteum,
Hal Turner, commented, "These new
customer wins reflect our deep understanding of the challenges
faced by a diverse range of dynamic, market-leading organizations,
and the great response our solutions represent to those challenges.
Our momentum continues to grow in the wake of our acquisitions of
Artilium and iPass, and our One TEUM strategy is delivering rich
rewards."
About Pareteum
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.
36-Month Contractual Revenue Backlog Definition:
36-Month Contractual Revenue Backlog (36MCRB), is a Non-GAAP
financial measure. It is measured on a forward-looking 36-month
snapshot view, monthly, and is generated by the Company's
Communications Services Providers, Enterprises, and IoT customers
who use communication as a service platform products and services
from the company's portfolio. 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 (connections), in some
cases including subscriber (connections) usage, during the term of
the agreement, and, their resulting monthly recurring contractual
revenue. There can be no assurances that we reach the total
contract revenue backlog. Timing of revenue recognition may vary
from actual results.
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 Contacts:
Ted O'Donnell
Chief Financial Officer
+1 212 984 1096
InvestorRelations@pareteum.com
Laura W. Thomas
Investor Relations
+1 703 930 4282
Carrie Howes
Rayleigh Capital
European- Global IR
+1 416 837 0075
View original content to download
multimedia:http://www.prnewswire.com/news-releases/pareteum-wins-17-million-in-new-early-march-contracts-300812993.html
SOURCE Pareteum Corporation