NEW YORK, Jan. 31, 2017 /PRNewswire/ -- Pareteum Corporation (NYSE MKT: TEUM) ("Pareteum" or the "Company"), a leading international provider of mobile networking software and services, today announced that its Global Mobility Cloud Platform now supports advanced messaging functionality required by internet-enabled and connected devices and that it has added Pronto Telecommunications ("Pronto"), a converged voice and data applications solution provider serving Telcos, ISPs, Cable Operators and other Service Providers, to its list of resale partners.
The Pareteum Global Mobility Cloud platform now supports Internet of Things ("IoT") and Machine to Machine ("M2M") services as used in business and industrial automation monitoring and sensor systems, wireless connectivity for automobiles, utility meters, and health monitoring devices. Pronto intends to utilize Pareteum's platform to provide new global communications products and services including connectivity for IoT and M2M applications being deployed by its telecommunications and networking solution provider customers as well as end users such as government agencies and multinational enterprises.
"We remain committed to delivering valuable new capabilities to our customers and partners, and with the addition of advanced messaging functionality supporting all forms of connected devices, we can now capitalize on the critical need for a cost-effective solution to their management no matter the device type or its location," said Hal Turner, Executive Chairman of Pareteum. "It's clear that the exponential growth of connected devices creates opportunities for businesses to innovate and create new revenue streams and our goal remains to support those organizations with the highest level of service and with the most flexible and feature-rich cloud-based management platform," Mr. Turner added.
"After evaluating Pareteum's Global Mobility Cloud platform, we are confident that it provides a combination of capabilities not currently offered in the marketplace. Working with Pareteum's team, we will be able to expand our traditional terrestrial and satellite communications services business into the vast IoT and M2M marketplace with compelling new solutions," commented Avery Abrams CEO of Pronto Telecommunications.
"Cloud services platforms are greatly enhanced through the addition of advanced messaging functionally making it ideally suited to the enterprise and the value-added solutions provider marketplace, which are large untapped markets for Pareteum. As we continue to expand our sales team and channel partner programs, markets such as IoT and M2M will be a major focus of ours," added Vic Bozzo, Chief Executive Officer of Pareteum.
According to data from Research and Markets and Berg Insight, over the next five years, the installed base of cellular M2M devices is projected to grow at a compound annual growth rate (CAGR) of 22.9 percent and that the 1 billion milestone for cellular M2M subscribers will be reached in 2022. The firms also believe that "as the cellular M2M market continues to grow, it is starting to generate substantial revenues for leading telecom operator groups such as Verizon and Vodafone…which reported quarterly M2M/IoT revenues in the range of $150-$200 million each in the first half of 2015 and could be on track to reach $1 billion on an annual basis within a few years' time."
According to Stratistics MRC, the IoT Cloud Platform Market is estimated at $1.88 billion today and is expected to reach $9.33 billion by 2022 growing at a CAGR of 29.0% from 2015 to 2022. The firm cited "increased working effectiveness, cost effective & easily deployable cloud data storage, growing acceptance of connected and intelligent devices and development of high speed networking technologies are some factors which are fueling the market."
About Pronto Telecommunications:
Pronto Telecommunications is a premier provider of International Voice, and Unified Communications solutions for Tier 1 Carriers and startup MVNOs. Pronto offers turn key, customizable cloud-based applications including voice, data, and IoT that enhance the launch and operation of MVNOs. Pronto's converged billing platform allows MVNOs to claim market share, while operating as a traditional MNO or as GLOBAL SIM Provider in over 100 countries. Pronto's capabilities are derived from a unique mix of license and infrastructure assets and partnerships with sector-leading software companies and Network Providers. Pronto is committed to delivering best-in-class products backed by a geo-redundant network paired with industry-leading uptime and customer service. Headquartered in Pittsburgh, Pennsylvania, Pronto Telecommunications also has regional offices in Canada. For more information on Pronto Telecommunications, please visit: www.prontotelecommunications.com.
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 and IoT markets. Pareteum's large MVNE customers, include Vodafone (the world's second largest mobile operator by customer count), Zain (ZAIN, the 4th largest mobile operator in the world in terms of geographical presence), Cleartech, Expeto and other Tier 1 and MVNO customers. For more information please visit: www.pareteum.com.
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.
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SOURCE Pareteum Corporation