Pareteum Drives Innovation and Bolsters Strength of its Mobile Payment Solution by Appointing Ali Davachi as Chief Technology Officer and Chief Operating Officer

NEW YORK, Dec. 29, 2017 /PRNewswire/ -- Pareteum Corporation (NYSE American: TEUM), ("Pareteum" or the "Company"), the rapidly growing mobile Cloud Communications Platform company, announced that it has appointed E-Commerce and Network Security executive Ali Davachi as Pareteum's Chief Technology Officer and Chief Operating Officer.

Davachi has 20 years of hands-on experience with all facets of complex technology architecture and delivery, working in verticals including finance, healthcare, telecom, and consumer products and services, including security, analytics, big data, workflow orchestration, blockchain and large scale mobile applications for some of the largest companies in the world in these verticals.

Hal Turner, Executive Chairman and Principal Executive Officer of Pareteum commented, "We welcome Ali aboard and are excited to have a technology executive who has worked with the largest credit card company and the largest insurance company in the world join our team. His roll-your-sleeves-up, entrepreneurial approach to executive management exactly fits our culture at Pareteum. As we very rapidly sign multi-year contracts in the MVNO, IoT and API enablement markets with new customers, we are committed to delivering superb operational performance and implementation. Ali is the right person to manage scaling our technology infrastructure and vision to meet Pareteum's growth needs."

"Ali has delivered innovative solutions in such a broad spectrum of software and networking environments, and as mobility becomes a "plug-in" to other applications, we needed a brilliant mind to see the many ways our technology and services could be used," stated Pareteum CEO Vic Bozzo. "His ability to view strategic and tactical initiatives from multiple technical and commercial viewpoints allows him to see opportunities and implement with a new customer for maximum impact. Ali's depth of experience makes him uniquely qualified to build and manage the teams required to execute the vision for Pareteum."

"I am excited and honored to join the Pareteum team. Pareteum has a tremendous opportunity in the market today to become the leading provider of cloud-based mobile services. Its products and services are unique and deliver turn-key value, making the company highly competitive in the industry and I am pleased to take these building blocks into applications that are wireless in nature and completely managed by software," added Ali Davachi, Pareteum's CTO and COO.

Davachi has 20 years of hands-on experience with all facets of complex technology architecture and delivery, working in verticals including finance, healthcare, telecom, and consumer products and services, including security, analytics, big data, workflow orchestration, blockchain and large scale mobile applications for some of the largest companies in the world in these verticals. Mr. Davachi was previously Chief Information Security Officer and SVP of Technology at Scivantage Inc., which services financial institutions with a SaaS platform delivering investor services. Most recently, Davachi was Founder and CEO of Realware LLC, an enterprise IT and development firm, where he led his staff delivering strategic technology applications in e-commerce, mobile payment management, application development, and managed hosted services to some of the largest credit card companies, insurance companies and global brands. There, he handled all aspects of SaaS infrastructure, database management with Oracle, Microsoft SQL Server, DB2 and Hadoop, and security including secure code initiatives and systems security. Prior, he was Chief Technology Officer at Transactis, responsible for software design and architecture, and Chief Information Officer and Global VP of Process at Wenger Swiss Army.

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.

Contractual Revenue Backlog Definition: 
Contractual revenue backlog is measured on a forward looking 36 month snapshot view monthly, and, is generated by each of the Company's Managed Services, Global Mobility Cloud, and Application Exchange & Developer's Platform customers. The Pareteum multi-year Software-as-a-Service agreements include service establishment and implementation fees, guaranteed minimum monthly recurring fees, as well as contractually scheduled subscribers, in some cases including subscriber usage, during the term of the agreement, and, their resulting monthly recurring revenue. There can be no assurances that we reach the total revenue backlog. The revenue backlog assumes timing of revenue recognition that may vary from actual results.

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

Hayden IR
(917) 658-7878

SOURCE Pareteum Corporation

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http://www.pareteum.com