NEW YORK, July 20, 2017, TEUM, /PRNewswire/ — Pareteum Corporation (NYSE MKT: 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 two new cloud services contracts from UK-based Communications Service Providers (CSP’s) for its on-demand hosted Home Location Register (HLR) services. This marks the second and third customers for its HLR-as-a-Service product, which was announced in May 2017. These new three-year contracts represent more than 50,000 new subscriber equivalents and an additional $1,000,000 to Pareteum’s current revenue backlog.
These new customers will utilize the subscriber database management and billing capabilities of TEUM Global Mobility Cloud Platform to manage their end users’ mobile devices. In addition to increasing sales through these new relationships, Pareteum benefits by extending its coverage area for TEUM Global Connection, our mobile connectivity solution, by leveraging the networks of these customers.
“We are delighted to welcome these new customers to TEUM Global Mobility Cloud Platform. There has been significant interest from prospective customers since this product was announced. Many service providers have begun to look at TEUM Global Mobility Cloud Platform to cost-effectively outsource their subscriber management functionality and increase their revenues without having to invest in additional staff or internal sub-systems,” stated Rob Mumby, Pareteum’s SVP Worldwide Sales. “Virtualized services are a new source of revenue for Pareteum and the opportunity in this market sector will continue to drive the expansion we seek.
“Billions of connected devices are coming online, driven by new IoT services. Exponential growth is expected in the data communicated among multiple subscriber networks. All of this information requires metering, charging, billing and reporting to assure proper payments among the networks and their subscribers. These are the capabilities that are inherent in TEUM’s Software as a Service offering. We firmly believe that the need for our flexible infrastructure platforms, including TEUM Global Mobility Cloud Platform, will dramatically expand,” said Hal Turner, Executive Chairman of Pareteum. “Pareteum’s solutions continue to demonstrate an ability to disrupt the traditional model of mobile communications service delivery.”
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.
