TEUM Awarded 2 Year Contract for Global Mobility Cloud Services
Pareteum Awarded 2-Year Contract for its Global Mobility Cloud Services From Europe-Based Value-Added Service Customer
Enabling app developers to monetize in the app economy projected to double to $101 billion by 2020
NEW YORK, NEW YORK, August 3, 2017 – Pareteum Corporation (NYSE American: TEUM), (“Pareteum” or the “Company”), a leading communications technology provider to global Mobile, MVNO, Enterprise and IoT markets, today announced that it has been awarded a new 2-year cloud services contract from a Europe-based Value-Added Service provider for its Global Mobility Cloud Platform.
Pareteum’s Global Mobility Cloud Platform enables this new customer to seamlessly provide transaction and billing services to online application developers in the streaming content, media, and gaming industries to help them monetize their content. The customer is utilizing Pareteum’s subscriber database management, billing capabilities, and connectivity relationships to optimize its offering to the growing application developer market.
“There are so many developers that require communications services to be bundled into their applications and Pareteum’s Global Mobility Cloud Platform is helping this service provider connect and bill for these apps on any network, anywhere,” stated Nick Barter, Pareteum’s VP of Sales EMEA. “We are delighted to welcome this new customer to our Global Mobility Cloud.”
“The ability to monetize the use of online applications is paramount for the app economy, which was estimated at $50 billion in 2016 and is expected to grow to $101 billion by 2020. Billions of applications are communicating with each other every day, bringing an exponential growth in the amount of data and communication that will require connectivity, metering, charging, billing and reporting. Pareteum is helping to accelerate this integration,” said Hal Turner, Executive Chairman of Pareteum. “Online application providers are a new source of revenue for Pareteum. Given the dramatic increase in the size of the app economy, we believe this will be a growing source of recurring revenue for our Company.”
About Pareteum Corporation
Pareteum Corporation and its subsidiaries provide a complete mobility cloud platform, utilizing messaging and security capabilities for the global Mobile, MVNO, Enterprise, Software-as-a-Service and IoT markets. The Company’s software solutions allow any organization to harness the power of a wirelessly connected world by delivering seamless connectivity and subscriber management capabilities that provides end-to-end control of millions of connected devices. Mobile Network Operator (MNO) customers include Vodafone, the world’s second largest mobile operator by customer count, Zain, one of the largest mobile operators in the Middle East, as well as MVNO customers such as Lebara and Lowi. 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 Contact:
Ted O’Donnell
Chief Financial Officer
(212) 984-1096
InvestorRelations@pareteum.com
