Pareteum Expands into China with $1 Million Contract Extension with Existing India-Based Mobile Travel Client

NEW YORK, May 1, 2018 /PRNewswire/ -- Pareteum Corporation (NYSE American: TEUM), ("Pareteum" or the "Company"), the rapidly growing Cloud Communications Platform company, announced today that their customer, an established provider of mobile services to subscribers travelling from India, has expanded their Mobile Virtual Network Operator (MVNO) platform offering with the expanded connectivity provided by the Pareteum Global Cloud. This additional contract award of $1 million is incremental to the existing agreement and results in the 3-year contract, aggregating to $4 million for Pareteum.

The established Indian SIM provider initially selected Pareteum in October 2017 to power its new cross-border MVNO. Pareteum's Global Cloud Services Platform (GCSP) was deployed ahead of schedule in early January 2018 and its connectivity has allowed the client to deliver services in new markets, expanding the reach of its travelling subscribers. Pareteum's connectivity platform enables the client to focus on their customer acquisition initiatives, launch new distribution centers around the world, take control of their subscriber experience and generate incremental revenue.

"The Pareteum Global Cloud is ever expanding and with that expansion comes the ability to serve more and more subscribers," said Vic Bozzo, CEO. "Our sales and delivery teams are hard at work to bring all of our potential subscribers live and while that is happening our product and cloud group is working to keep up with the growing demand for more connectivity and additional services to be delivered through the channel."

Hal Turner, Executive Chairman and Principal Executive Officer of Pareteum, commented, "The growth of our customers, and the resulting growth of Pareteum, is attributable to delivery on 'promises made.' Platform launch, on time or ahead of schedule, services that meet and exceed the needs of our customer's customers, and value creation demonstrated and experienced because of both, are testaments to the success of the Pareteum story. A current customer buying more from you, because they are well satisfied, is the best endorsement. We will continually work to increase our speed to market, introduce new technologies, and capture new business by continually expanding our services roadmap and the services offered to meet customer needs. This is how we are part of the movement to open mobility and applications, globally."

About Pareteum:
The mission of Pareteum Corporation (NYSE American: TEUM) is to connect "every person and everything." Organizations use Pareteum to energize their growth and profitability through cloud communication services and complete turnkey solutions featuring relevant content, applications, and connectivity worldwide. Our 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 award winning software, developed and enhanced for many years. 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

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