NEW YORK, April 26, 2018 /PRNewswire/ -- Pareteum Corporation (NYSE American: TEUM), ("Pareteum" or the "Company"), the rapidly growing Cloud Communications Platform company, announced today that it has signed a 3-year contract to provide its Global Cloud Services Platform (GCSP) and Connectivity for roaming, airtime, voice, SMS, and data to an emerging North American Mobile Virtual Network Operator (MVNO) servicing retail consumers, along with underserviced subsidized subscribers throughout North America. This new agreement enables the MVNO to offer more affordable mobile and broadband services, addressing their mission aimed at overcoming digital divides and opening doors for economic development and associated opportunities.
The customer will use Pareteum's Global Cloud solution to build subscriber revenues with applications addressing: Mobile Money, Mobile Banking, E-Commerce, Education, Healthcare, Financial Inclusion and Emergency Management services. The majority of the customer's growth investment will go to serving underserved subscribers, since there is no heavy infrastructure or software investment for the MVNO customer choosing Pareteum's suite of services. Pareteum will be paid monthly for every subscriber connection operating on the platform, in addition to usage fees for connectivity and communications services.
Vic Bozzo, CEO of Pareteum commented, "We continue to focus on making this a simple set up, with a single platform and connectivity in as many places as possible, through partnerships with incumbent Mobile Network Operators and Carriers. This latest win is specifically a result of the hard work of our talented sales force and market leading technology."
Hal Turner, Executive Chairman and Principal Executive Officer of Pareteum stated, "Pareteum's vision is open mobility and application networks, globally. This will mean the availability, on demand, of the best services, in both quality and pricing, to connect 'Any Device, Any Network, Anywhere.' Providing safe, secure, quality mobility services to underserviced communities and their billions of underserved people is a global effort. Pareteum is pleased to empower this new North American MVNO as they provide previously unattainable connectivity to their customers, opening new opportunities for economic development and safety."
About Pareteum: 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. 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 award winning software, developed and enhanced for many years. 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.