NEW YORK, May 10, 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
launched seven new customers into production during April
2019.
Continued rapid movement of customers into production is driving
a strong financial performance from Pareteum. Today's
announcement follows the release of Pareteum's first
quarter financial results for 2019, during which the Company
generated revenue of $23 Million, a
year-over-year growth rate of 460 percent.
The seven new customers now powering their commercial services
with Pareteum solutions are:
- An Internet of Things (IoT) service provider using the Pareteum
SuperAPI to connect to the Pareteum global network to
deliver IoT connectivity and management services to customers and
application developers in the automotive, smart city, and systems
integrator sectors.
- A developer of a global blockchain-based Wi-Fi sharing
community which has embedded Pareteum's global smart
Wi-Fi network into its mobile app to provide access for members who
have mined tokens by sharing their own Wi-Fi.
- A provider of mobility services using
the Pareteum cloud platform and smart network to power
competitive national and international mobile services to ex-pat
communities living in the Netherlands.
- A mobile voice and broadband services provider to international
enterprise and consumer markets using Pareteum's cloud
platform, SIM solutions, and network capabilities to deliver
services in the US, Australia, and
New Zealand.
- A Pay-TV and broadband provider using
the Pareteum solutions to extend its bundled offering to
include mobile services.
- A US Mobile Virtual Network Operator and provider of virtual
PBX services using the Pareteum platform and network to
power services to the B2B market.
- A UK Mobile Virtual Network Operator with distribution through
one of the UK's largest wholesale retailers is using
the Pareteum cloud platform, network, and SuperAPI
to power consumer services.
Pareteum's Executive Chairman and Principal Executive Officer
Hal Turner commented, "We are
maintaining incredible momentum in bringing our customers into
commercial operation while continuing to drive new business
opportunities for our software- and cloud-based solutions. I am
proud of our highly skilled software engineering TEUM and I look
forward to deep and fruitful strategic relationships with each of
these customers and many more."
Vic Bozzo, Chief Executive
Officer at Pareteum added, "At Pareteum we strive
for excellence in execution and I am delighted with our
continued efforts. Revenue continues to grow and that is the proof
that we are succeeding at every point in our customer
relationships, from sales transactions all the way through to
commercial launch."
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.
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
carrie@rayleighcapital.com
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SOURCE Pareteum Corporation