Pareteum Awarded $3,500,000 Contract by Leading European Mobile Reseller to Convert Customers to its Own MVNO Brand

NEW YORK, Oct. 31, 2017 /PRNewswire/ -- Pareteum Corporation (NYSE American: TEUM), ("Pareteum" or the "Company"), the rapidly growing mobile Cloud Communications Platform company, today announced that it has been awarded a cloud services contract from a leading European mobile reseller and unified communications supplier which has been servicing some of the largest enterprises in the UK and Europe for over 20 years. The contract is scheduled to add $3,500,000 to Pareteum's $100+ million revenue backlog over a 36 month period with contract deployment planned in the first quarter of 2018.

Pareteum's Global Mobility Cloud Platform enables this new customer to transition some of its reseller customers to their own platform and brand, thus creating new Mobile Virtual Network Operators (MVNOs). Pareteum's customer is utilizing Pareteum's Global Mobility Cloud Platform and connectivity relationships to take control of its offering and its opportunities for growth as it sells to enterprises of all sizes. 

"We are delighted to welcome this new customer to our Global Mobility Cloud and expect this agreement to add significantly to our recurring monthly revenues over the term of the contract as traditional mobile users convert to MVNO based on our cloud platform," stated Vic Bozzo Pareteum's CEO. "Backed by two decades of experience working at the intersection of telecom, mobility and the Internet, our customer embraces the idea that telecom and digital ecosystems require secure, universal interactions through any device, anywhere in the world. Pareteum's Global Mobility Cloud Platform provides exactly this, and is helping this service provider to take more control of its customer experience wherever they originate on any network, anywhere."

"The global unified communications market size was estimated at $35.65 billion in 2016 according to Grandview Research. Increasing global expansion of multinational organizations from diverse industry verticals has led to a rising need for communication with geographically dispersed customers and employees. Moreover, the introduction of innovative trends such as Bring Your Own Device (BYOD) among organizations worldwide is expected to drive the demand for such unified communications solutions. Pareteum is helping to accelerate this integration and our global mobility cloud is really providing a single interface to these customers to migrate their online retail VOIP and network resale customers to their own platform," said Hal Turner, Executive Chairman of Pareteum.

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.  

Pareteum Investor Relations Contact:
Ted O'Donnell
Chief Financial Officer
(212) 984-1096
[email protected]

SOURCE Pareteum Corporation

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