Pareteum Signs $2 Million Agreement with US Wireless Internet Services Provider
Rural Operator Expands Cellular and Broadband Mobility Offerings with 3 Year Contract
NEW YORK, July 19, 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 rural U.S. provider of wireless internet services (WISP) has awarded Pareteum a 3-year $2 million agreement for its mobility enablement software services provided through TEUM's Global Cloud Services Platform (GCSP).
The agreement provides this customer with new software capabilities for mobility services to offer their enterprise customers, expanding beyond Wireless ISP (WISP) services into smartphone and mobile services. These new capabilities, provided to our customer from Pareteum's software based cloud, open new markets throughout U.S. and internationally. With a broader range of mobile service solutions, including global wireless broadband, SMS, and voice calling, our customer has a new business and profit model as compared to its historic role as a turnkey wireless solutions reseller. End-retail customers will benefit from the variety of packages that can now be tailored to suit their needs and usage, at rates that are substantially lowered.
"Pareteum's easy-to-adapt solution showcases the strength of our cloud platform to service customers anywhere and everywhere with a single ubiquitous platform. With ease of use and support from the TEUM, we are continuously opening new revenue streams for our clients and therefore us," commented Vic Bozzo, Chief Executive Officer of Pareteum.
Hal Turner, Pareteum's Executive Chairman and Principal Executive Officer, stated, "Our newest client represents another step in achieving Pareteum's global aim of delivering software that enables affordable open mobility and open applications for everyone in the world. We are pleased to empower our client with the Pareteum world-class software cloud platform solution, as we expand further, serving more and more connections (people and devices) globally."
About Pareteum:
Pareteum Corporation (NYSE American: TEUM) is a rapidly growing global Cloud Communications Platform company with a mission 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 leading global Cloud software, 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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