NEW YORK, Aug. 16, 2018 /PRNewswire/ -- Pareteum
Corporation (NYSE American: TEUM), ("Pareteum" or the
"Company"), the rapidly growing Global Cloud Software company,
delivering award winning mobile enablement solutions, announced
today that a Southeast Asia
national mobile operator has selected Pareteum's Global Software
Defined Cloud (GSDC) in a 3-year $4
million agreement, enabling a complete digital
transformation of their consumer and enterprise Mobile Virtual
Network subscribers. By combining our new customer's existing
national mobile network with Pareteum's GSDC, all digital services,
including Internet of Things, Mobile Virtual Network Operations and
enterprise applications, are aggregated by the creation of this
fully integrated turnkey software solution.
As our new client onboards their new customers with Pareteum's
GSDC, their respective brands can now create unique,
custom-designed marketing plans for individual subscribers. Under
the terms of the contract, initial service deployment is expected
by the end of November 2018, and 2018
revenue contribution is approximately $100,000. The balance of the remaining
35-month contractual revenue backlog is expected to be recognized
over the remainder of the contract, beginning January 1, 2019.
Vic Bozzo, Chief Executive
Officer of Pareteum, stated, "As the digital economy takes over,
Asia is quickly growing in
connections and investing in software solutions for expanding
needs. Pareteum is pleased to provide this client with a single
solution that allows them to manage different types of unique
clients and tailor their offering each time without having to
deploy a new platform."
Hal Turner, Executive Chairman
and Principal Executive Officer of Pareteum, commented, "Pareteum's
mission of open mobility and application networks via our Global
Software Defined Cloud is epitomized with our newest customer who
has operated successfully in Southeast
Asia for more than 5 years, since the competitive
deregulation in their country. Pareteum's SuperAPI provides a
flexible solution, without heavy infrastructure capital investment,
and, is at the heart of our ability to create geographic freedom to
unlock the limitless potential of this connected region."
About Pareteum Corporation:
Pareteum Corporation (NYSE
American: TEUM) is a rapidly growing Global Software Defined Cloud
company with a mission to connect "every person and everything."
Organizations use Pareteum to energize their growth and
profitability through our Global Software Defined Cloud and
complete turnkey solutions featuring relevant content,
applications, and connectivity worldwide. Our Cloud platform
services partners (technologies integrated into our cloud) include:
HPE, IBM, Ribbon Communications (Sonus+GenBand), NetNumber, Oracle,
Microsoft, and other world class technology providers. All of the
relevant customer acquired value is derived from Pareteum's leading
Global Software Defined Cloud, delivering award-winning mobile
enablement, regardless of the user's location or network. 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.
Pareteum Investor Relations Contacts:
Ted O'Donnell
Chief Financial Officer
(212) 984-1096
InvestorRelations@pareteum.com
Stephen Hart
Hayden IR
(917) 658-7878
Carrie Howes
Rayleigh Capital
Dubai- London
T UAE: +971 (0) 55 997 0427 | T UK: +44 (0) 870 490 5443 | T CAN:
+1 416 900 3634
View original content with
multimedia:http://www.prnewswire.com/news-releases/pareteum-awarded-4-million-agreement-for-southeast-asia-national-mobile-operator-300698258.html
SOURCE Pareteum Corporation