Pareteum Launches Six Customer Agreements into Production in January

NEW YORK, Feb. 20, 2019 /PRNewswire/ -- Pareteum Corporation (Nasdaq: TEUM), a rapidly growing global cloud software communications platform company with a mission to connect "every person and every(thing)", today announced six customer agreements were launched into production during the month of January 2019.

These six newly enabled customers are enterprises and communication service providers, delivering value applications and IoT services to their subscriber bases around the world, including:  

• A leading US provider of contact center services for Fortune 500 enterprises using our cloud software communications platform and messaging solutions.
• An established Mobile Virtual Network Operator (MVNO) in the Caribbean expanding its new services geographically, including the US, through the deployment of our cloud software communication platform and connectivity.
• A US Mobile Virtual Network Operator (MVNO) extending into the IoT market by leveraging the power of our cloud software communications platform and connectivity.
• A Mobile Virtual Network Operator (MVNO) in Asia using our cloud software communications platform and connectivity in conjunction with their blockchain application.
• A US based healthcare enterprise using our cloud software communication platform and connectivity to provide service for IoT supported devices used to monitor patients and machines.
• A European telecommunications company that provides mobile and software solutions throughout UK using our platform and connectivity.

"We continue to move signed customers from our contract backlog into production and revenue generation mode, delivering immediate value," said Vic Bozzo, Chief Executive Officer of Pareteum.  

Pareteum Executive Chairman and Principal Executive Officer Hal Turner comments, "We are rapidly bringing our customers into service production, enabling them to realize their business plans, creating unique mobility and application software solutions.  The ability to quickly accomplish all this, without heavy infrastructure or software development cost, keeps our customers coming back for more."

About Pareteum:
Millions of subscribers are connected around the world using Pareteum's Global Cloud Platform for communications, improving experiences in their lives and businesses. Pareteum's Global Cloud Platform unleashes the power of applications and mobility services, bringing secure, ubiquitous, scalable and seamlessly available voice, video, messaging and data services for our customers, making worldwide communications facilities easily accessible to everyone. Serving enterprises, telecommunications infrastructure providers, communications service providers, early stage innovators and developers, Pareteum envisions our world, each day, imagining what will be, and delivering now. For more information please visit: www.pareteum.com.

Contractual Revenue Backlog Definition:
Contractual Revenue Backlog, or just Backlog, a Non-GAAP measure is measured on a forward looking 36-month snapshot view monthly, and, is generated by each of the Company's Managed Services, Global Software Defined 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 contractual revenue. There can be no assurances that we reach the total contract revenue backlog. Timing of revenue recognition may vary from actual results.

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 Contacts:
Ted O'Donnell
Chief Financial Officer
+1 212 984 1096
[email protected] 

Stephen Hart
Hayden IR
+1 917 658 7878

Carrie Howes
Rayleigh Capital
European- Global IR
+1 416 837 0075

SOURCE Pareteum Corporation

Related Links

http://www.pareteum.com