Pareteum Secures $4 Million Contract with Eastern European-Based Broadband Provider
3-Year Agreement Adding Mobile Service Connectivity and Market Expansion
NEW YORK, Aug. 9, 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 leading Eastern European-based Enterprise company has selected Pareteum's Global Software Defined Cloud (GSDC) in a 3-year $4 Million Agreement to offer Mobile Communications Services to their existing customer base and expand services across Eastern Europe.
Pareteum's GSDC enables this long-established internet-based broadband service provider (ISP) to expand their current business model to now include Mobile Communications Services via Pareteum's cloud, providing mobility services without deep investment in the underlying cell tower and spectrum infrastructure. Pareteum's Global Software Defined Cloud facilitates subscribers, devices and customer management with our integrated SuperAPI, and provides secure services with innovative authentication-based identity management. Powered by our Insights Engine and Predictive Analytics application, our newest client can now create unique on-demand plans and bundles tailored for their end-customers ranging from high data-only plans to quad play plans (including streaming, gaming and wireless services).
Vic Bozzo, Chief Executive Officer of Pareteum, stated, "Pareteum's single source GSDC solution, with its ease of use and value driven implementation costs, makes the decision to expand an existing revenue base less complex. Improving a company's bottom line through expansion, offering new products and technologies adapted to the customers' needs, is a reality Pareteum is here to deliver."
Hal Turner, Executive Chairman and Principal Executive Officer of Pareteum, commented, "We aim to be the market's repetitive choice for providing a high-end super API-driven Global Software Defined Cloud. By empowering enterprise customers with the ability to deliver new services, create new revenues, and operate more efficiently, Pareteum will continue to foster expanded markets, business growth, and new strategies for our customers' competitiveness."
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
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