NEW YORK, March 15, 2018 /PRNewswire/ -- Pareteum
Corporation (NYSE American: TEUM), ("Pareteum" or the
"Company"), the rapidly growing Cloud Communications Platform
company, announced today that it has signed a three-year contract
with a California CPaaS (Communications Platform as a Service)
company to provide their enterprise developer customers with the
ability to add mobile services and connections to their platform.
Pareteum's newest customer will now be able to integrate
mobile communications services into their applications for the
industries they service from marketing and call centers to
healthcare and smart city devices.
CPaaS is the high-growth cloud services market that is the
vehicle for software to innovate communications. According to
IDC, the worldwide market is forecasted to exceed $8.2 billion in 2021. In short, CPaaS
companies operate a platform that enables developers, from
companies like Uber, Google and Facebook, to incorporate
communications into their applications through API's (Application
Programming Interface). The CPaaS connects to traditional
telcos, like AT&T, Verizon and Vodafone, so developers can
incorporate their services, like phone numbers, call completion and
SMS, into the applications.
Vic Bozzo, CEO of Pareteum
stated, "Pareteum's Global Cloud Services Platform is becoming a
ubiquitous interface for many different verticals. The
simplicity of a single source provider supporting a variety of
applications makes Pareteum's platform most desirable in the
current marketplace. We are encouraged by the sales results as our
market value is exemplified by the continuous flow of new customer
coming aboard."
Hal Turner, Executive Chairman
and Principal Executive Officer of Pareteum, stated, "In the new
digital economy, service providers, marketing companies and agile
enterprises are quickly becoming software companies. Our technology
platform, including our Blockchain solutions, enables these service
providers to expand their offering to their enterprise and consumer
customers. Their internal developers can now leverage Pareteum APIs
as the building blocks upon which to create their CPaaS
platforms."
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. Our
platform services partners (technologies integrated into our Cloud)
include: HPE, IBM, Sonus, Oracle, Microsoft, and other world class
technology providers. All of the relevant customer acquired value
is derived from Pareteum's award winning software, developed and
enhanced for many years. 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
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SOURCE Pareteum Corporation