NEW YORK, Dec. 12, 2017 /PRNewswire/ -- Pareteum
Corporation (NYSE American: TEUM), ("Pareteum" or the
"Company"), the rapidly growing mobile Cloud Communications
Platform company, announced today that it has already commenced
initial deployments of 'Connections' for the China-focused MVNO that was awarded in late
November. This 3-year, $1 million
contract enables the MVNO's China-based subscribers to connect and
transact on their mobile devices anywhere in the world.
Pareteum executed on an unprecedented timetable of two weeks
from contract award to "go live," allowing the MVNO client to focus
on their subscriber acquisition and Pareteum to begin to recognize
revenue. This speed of delivery is the result of the Company's
turnkey cloud platform and connectivity bundle which is a key
differentiator in winning new business and enhanced customer
satisfaction. Pareteum's unique proposition enables brand service
providers including multi-country enterprises and subscribers to
take control over their own mobile future.
Vic Bozzo, CEO of Pareteum,
commented, "The requirement was for the MVNO's China-based subscribers to connect and
transact on their mobile devices anywhere in the world. By choosing
Pareteum they were able to expand subscriber revenues through
global connectivity and data, without the need for investment in
infrastructure or software. Our latest software version fosters
this new deployment paradigm and allows us to begin to access our
contracted revenue backlog faster."
Hal Turner, Executive Chairman
and Principal Executive Officer of Pareteum, stated: "We believe
our TEUM's ability to rapidly deploy our technology's robust
cloud-based platform are key value-adds that power our clients and
distinguish us from our competition. As new technologies such as
blockchain and bitcoin become viable settlement currencies, clients
like this MVNO get the benefit of our platform, subscriber
management, retail billing and integration with these innovative
new technologies. We expect our strategic alliance with Artilium to
enable us to capture new business in exciting new geographic areas,
as well as provide expanded services for connectivity, mobility,
and the digital transactions that require the scale of our cloud
offerings and payment capabilities."
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. 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:
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.
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
InvestorRelations@pareteum.com
Hayden IR
(917) 658-7878
SOURCE Pareteum Corporation