Pareteum Expands Key Leadership Positions
Former iPass management tapped to accelerate TEUM momentum
NEW YORK, Feb. 21, 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 the appointment of numerous members of the iPass management team in key roles across Pareteum.
Pareteum's acquisition of iPass was driven by many compelling reasons, chief among them, the expansion of Pareteum's services delivery and conversion of our growing backlog. Additionally, by joining Pareteum's new leadership teum, these new "TEUMATES" bring skills and expertise in managing the significant product and services synergies, that will drive greater value to Pareteum's fast growing customer base, through newly bundled services and cross selling of products. Pareteum is also very pleased with the addition of its new market segment, the enterprise market, which is now composed of more than 500 Fortune 5000 customers. These customers will soon benefit from expansion beyond WiFi access services and into a full suite of cloud platform connectivity and software communications services.
Former iPass executives have joined and assume the following Pareteum roles:
- Patricia Hume assumes global corporate marketing functions, including corporate and administrative organizational support, as chief marketing officer.
- Christine Braelow joins as VP of global sales for the enterprise sales segment. Braelow will drive new customer acquisition across the entire Pareteum product portfolio.
- Blaz Vavpetic joins as VP of Product Management. Vavpetic will head product marketing with overlay product revenue responsibility within all segments partnering with the executives within the sales Teums.
- Raghu Konka joins as VP of Engineering driving platform development and integration across the company.
- Venkat Etikyala joins as VP of Global Network Operations and Level I/II Support.
- Erin Norton joins in the role of corporate staff support including financial and operations reporting.
Gary Griffiths, the former CEO of iPass, has joined the Pareteum Advisory Board. Pareteum's Advisory Board was established in 2017 with executives having a depth of industry experience and knowledge. The TEUM Advisory Board leverages its decades of successes, providing perspectives on the industry and insights to maximize Pareteum's strategic positioning for new and accelerated growth.
Founder, Executive Chairman and Principal Executive Officer of Pareteum, Hal Turner, commented: "It's great to have this team on board as we enter the next phase of our growth. They have a wealth of experience which will be invaluable as we expand our focus and scale the company to achieve its strategic objectives."
"Pareteum is one of the fastest growing companies in the industry and a true innovator," added Hume. "I am very excited to join along with my colleagues. We look forward to helping the company reach its next level of growth, highlighting the value that Pareteum's end-to-end global cloud communications platform can bring to enterprises, communications service providers and developers."
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
[email protected]
Stephen Hart
Hayden IR
+1 917 658 7878
Carrie Howes
Rayleigh Capital
European- Global IR
+1 416 837 0075
SOURCE Pareteum Corporation
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