Pareteum Awarded $4 Million Agreement for Southeast Asia National Mobile Operator

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
[email protected]

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

SOURCE Pareteum Corporation

Related Links

http://www.pareteum.com

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