NEW YORK, March 5, 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 twenty new customers
have executed 3-year contracts during February 2019, valued at $30 million in the company's expanding 36-month
contractual revenue backlog (36MCRB). These new customer
transactions geographically span Europe, Middle
East, Africa, US and
Asia, and include software
communications platform service offerings including those from the
company's recent acquisitions of iPass and Artilium.
A sample of these new agreements signed in February 2019 include the following:
- Cloud communications platform and connectivity services for a
UK-based Mobile Virtual Network Operator (MVNO)
- Cloud communications platform and connectivity services for a
US-based Mobile Virtual Network Operator (MVNO) that
offers talk, text and data plans specifically targeted at people of
faith
- Cloud communications platform and connectivity services for a
US-based Mobile Virtual Network Operator (MVNO)
- Cloud communications platform and connectivity services to
power in-vehicle Internet of Things (IoT) devices for a
US-based engineering and manufacturing company
- Messaging, text to speech (TTS), and cloud communications
platform for Internet of Things (IoT) global provider based in
Africa
- Full Deployment of SmartConnect™ mobile
connection management solution with Wi-Fi connectivity to a US
based Fortune 1000 enterprise
- SMS (Short Message Service) and voice solution for an
Asian Voice over Internet Protocol (VOIP) Global Standard for
Mobile (GSM) manufacturer
- SmartConnect™ mobile connection management
solution with Wi-Fi connectivity to a US based Fortune 2000
enterprise
Executive Chairman and Principal Executive Officer of Pareteum,
Hal Turner commented: "These new
customers have chosen Pareteum because we solve real problems and
add immediate value to their operations. This is our
"Power of ONE TEUM" – by bringing together Pareteum,
Artilium, and iPass, we are delivering innovative, easy to use
products and services that are the leading edge of this industry.
This is how we "reimagine communications" everyday. It is
our customers, who have been with us for years and continue to buy
more services from us, coupled with our newest relationships, who
have benefited most from TEUM"s growing market momentum and have
contributed to our ever expanding service reputation for quality
and dependability."
Vic Bozzo, Chief Executive
Officer at Pareteum, added: "Our plan to establish Pareteum as the
leader in communications services is progressing well. We are very
pleased with the traction over the last month and the growing list
of customers who are choosing to partner with Pareteum to deliver
innovative communications services."
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
36 Month Contractual Revenue Backlog Definition:
36
Month Contractual Revenue Backlog (36MCRB), is a Non-GAAP financial
measure. It is measured on a forward-looking 36-month snapshot
view, monthly, and is generated by the Company's Communications
Services Providers, Enterprises, and IoT customers who use
communication as a service platform products and services from the
company's portfolio. 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 (connections), in some cases including
subscriber (connections) usage, during the term of the agreement,
and, their resulting monthly recurring 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