NEW YORK, Feb. 14, 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 that it closed FY2018 with six
new three-year agreements with new and existing customers, worth a
total of $15 million. Combined with
previously announced contracts, Pareteum's 36-month contractual
revenue backlog now totals $615
million. In addition, eight agreements that were announced
in November and early December have been launched into
production.
The new agreements signed in December
2018 include the following:
- Connectivity and mobile services for Latin-American
Telecommunications Company that offers long-distance calling,
internet and broadband across Chile, Colombia, Ecuador, and Peru.
- Integrated solutions for a UK Telecommunications Company that
provides mobile and software solutions throughout Europe.
- Global IoT solution for an MVNO focused on improving methods to
provide and track B2B and B2C connectivity.
- Connectivity solutions for US based MVNE focused on flexible
connectivity solutions for global travelers through pre-paid
solutions.
- Integrated solutions for US based Managed Service
Communications and Network Solution provider.
- Integrated solutions for US based PR and Marketing Firm that
specializes in creating projects and solutions through Global
Communications.
"Our strong position at the end of 2018 is exceeded by further
strong growth into 2019 and indicates the scale of opportunities
open to Pareteum. We continue to have a strong focus on sales and
our service delivery as we launched eight customers in December. We
have never been better positioned to empower businesses with the
latest connectivity and cloud platform mobility solutions," said
Rob Mumby, Chief Revenue Officer of
Pareteum.
The following eight customers were launched into
production in December 2018:
- IoT applications host and B2B sales by a large, national MVNO
based in the U.S.
- Connectivity solutions for US based phone manufacturer of small
phones that limit use to calls and nine speed dials.
- Cloud platform solutions for US Based one-touch dialing, and
international network Connectivity Company.
- Voice, SMS, data and mobile service solutions for a UK-based
Telecommunications Provider and Mobile Network Operator.
- IoT services to support GPS tracking solutions for parents and
their children with phones by US based wireless provider.
- Integrated mobile solution for European Telecommunications
Company that provides mobile and software solutions throughout the
UK.
- Smart billing solution for UK based international startup
company focused on secure mobile money transactions globally;
and
- Connectivity solutions for US MVNO that provides high-speed
Internet, mobile, streaming and broadband services.
Pareteum Executive Chairman and Principal Executive Officer
Hal Turner commented, "As
demonstrated with our new clients, Pareteum is starting 2019
stronger than ever, growing and satisfying our customers' needs,
innovating at a relentless pace ahead of others. We are in the
business of inspiring and growing towards the future, operating
profitably, and recognizing and believing that 'we are all in
sales'."
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 services 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.
Contractual Revenue Backlog Definition:
Contractual Revenue Backlog, or just Backlog, a Non-GAAP measure is
measured on a forward looking 36-month snapshot view monthly, and,
is generated by each of the Company's Managed Services, Global
Software Defined 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
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
Stephen Hart
Hayden IR
+1 917 658 7878
Carrie Howes
Rayleigh Capital
European- Global IR
+1 416 837 0075
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SOURCE Pareteum Corporation