- Pareteum develops new software to enhance its Global Mobility Cloud Platform for the $9 billion contact center market
- New service increases 36 month contract value from $4,000,000 to $5,000,000
NEW YORK, NEW YORK, October 19, 2017, TEUM, – Pareteum Corporation (NYSE American: TEUM), (“Pareteum” or the “Company”), the rapidly growing mobile Cloud Communications Platform company, today announced it has been awarded a $1,000,000 increase to a recent contract announced on September 21, 2017 from one of the world’s leading providers of contact center services for Fortune 500 enterprises. The 3-year contract, originally valued at over $4,000,000, has increased to $5,000,000, added to Pareteum’s backlog. The contract increase is a result of the customer signing on for a newly released cloud-based feature developed by Pareteum.
Pareteum’s Global Mobility Cloud Platform enables this Application Programming Interface (API)-driven contact center provider to seamlessly provide mobile connectivity to its Fortune 500 clients for online sales and marketing programs.
“In response to seeing this customer’s needs, our innovation team was able to immediately write new software and develop functionality that can deliver even more value to contact center customers. The new service enables increased communication between the end user and the call center, thereby increasing transactional revenues. Transactional revenues will be received by Pareteum each time the end user chooses to use this new feature and communicate back to the call center,” stated Vic Bozzo, Pareteum’s CEO.
Hal Turner, Pareteum’s Executive Chairman commented, “This is our first customer in the contact center space, an industry that is rapidly moving into utilizing a wide range of technology and cloud-based services for their sales and marketing activities. Pareteum prides itself on operating at the need of speed and this is a perfect case in point. With a new customer, in a new market, we identified the need and developed software to meet that need, immediately leading to an increase in contract size and revenues.”
The global contact center market, formerly known as the call center market, is projected to grow to $9.7 billion by 2019.
About Pareteum Corporation
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. 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.
