NEW YORK, Feb. 20, 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 six customer agreements
were launched into production during the month of January 2019.
These six newly enabled customers are enterprises and
communication service providers, delivering value applications and
IoT services to their subscriber bases around the world, including:
- A leading US provider of contact center services for Fortune
500 enterprises using our cloud software communications platform
and messaging solutions.
- An established Mobile Virtual Network Operator (MVNO) in the
Caribbean expanding its new
services geographically, including the US, through the deployment
of our cloud software communication platform and connectivity.
- A US Mobile Virtual Network Operator (MVNO) extending into the
IoT market by leveraging the power of our cloud software
communications platform and connectivity.
- A Mobile Virtual Network Operator (MVNO) in Asia using our cloud software communications
platform and connectivity in conjunction with their blockchain
application.
- A US based healthcare enterprise using our cloud software
communication platform and connectivity to provide service for IoT
supported devices used to monitor patients and machines.
- A European telecommunications company that provides mobile and
software solutions throughout UK using our platform and
connectivity.
"We continue to move signed customers from our contract backlog
into production and revenue generation mode,
delivering immediate value," said Vic
Bozzo, Chief Executive Officer of Pareteum.
Pareteum Executive Chairman and Principal Executive Officer
Hal Turner comments, "We are rapidly
bringing our customers into service production, enabling them to
realize their business plans, creating unique mobility and
application software solutions. The ability to quickly
accomplish all this, without heavy infrastructure or software
development cost, keeps our customers coming back for more."
About Pareteum:
Millions of subscribers are connected
around the world using Pareteum's Global Cloud Platform for
communications, improving experiences in their lives and
businesses. Pareteum's Global Cloud Platform unleashes the power of
applications and mobility services, bringing secure, ubiquitous,
scalable and seamlessly available voice, video, messaging and data
services for our customers, making worldwide communications
facilities easily accessible to everyone. Serving enterprises,
telecommunications infrastructure providers, communications service
providers, early stage innovators and developers, Pareteum
envisions our world, each day, imagining what will be, and
delivering now. 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