NEW YORK, May 24, 2017 /PRNewswire/ -- Pareteum Corporation (NYSE MKT: TEUM),("Pareteum" or the "Company"), a leading international provider of mobile networking software and services to the Mobile Network and Internet of Things markets, today announced that it has been awarded a new cloud services contract by a UK-based Communications Service Provider (CSP) under which it will provide on-demand hosted Home Location Register (HLR) services. The new CSP customer intends to utilize the subscriber database management and billing capabilities of the Company's Global Mobility Cloud Platform to manage its end users' mobile devices. The service will be established in the third quarter with the expectation of transaction-based revenue to commence during the fourth quarter.
The main database location of permanent subscriber information for a mobile network is the Home Location Register, or HLR. This database contains pertinent user information such as address, account status, and preferences and is searched each time any mobile connection is attempted, usually through the carrier initiating the call or through one of a number of authorized database service providers who generate revenue on a per-lookup fee. With the advent of mobile devices that allow users to switch services, especially when roaming, subscriber control and management can become difficult and expensive as millions of devices attempt to establish millions of network connections each day. By moving the Home Location Register and subscriber database management into the cloud, delivered in a Software-as-a-Service model through Pareteum's Global Mobility Cloud Platform, CSPs can cost-effectively manage growing numbers of mobile devices, including network metering and billing, without a large upfront investment in infrastructure hardware and with lower, "pay as you go" transaction costs.
"Our Global Mobility Cloud continues to demonstrate its ability to disrupt the traditional model of mobile communications service delivery. With today's contract award, we are creating an entirely new capability that can further transform the industry," said Hal Turner, Executive Chairman of Pareteum. "As adoption of mobile communications accelerates, driven by new IoT services, billions of connected devices are set to come on line, bringing virally spiraling amounts of data that require metering, charging, billing and reporting, all critical capabilities inherent in our Software-as-a-Service offerings. We firmly believe that the need for our flexible infrastructure platforms will dramatically expand, and, we are confident that Pareteum's technology will further prove that it is well positioned to meet the industry's evolving needs."
The new service offering is enabled through the Company's patented "SIM-free HLR Migration" technology which allows any Mobile Network Operator (MNO), Mobile Virtual Network Operator (MVNO) or CSPs to seamlessly migrate a subscriber from one central subscriber database to another, without requiring the issuing of a new SIM (Subscriber Identity Module) to end users. Another key benefit of the SIM-Free HLR Migration technology is its critical ability to authenticate a mobile device when it accesses an operators' network since all devices accessing a mobile network are required to provide its subscriber identifier which allows the carrier's Home Location Register to authenticate it each time it connects to the mobile communication network. With the SIM-Free HLR technology, the subscribers' individual security-code is fully-secured and embedded to eliminate any potential data access risks.
Vic Bozzo, Chief Executive Officer of Pareteum, added, "Today, Home Location Register services represent a multi-billion dollar a year industry for providers around the world who generate fees based upon millions and millions of look-up transactions. Because our Global Mobility Cloud platform already enables customers to cost effectively outsource all of their subscriber management functionality, it is ideally suited to support high-transaction volume services such as HLR-as-a-Service. With this new customer, we intend to leverage our Intellectual Property and the core capabilities of our cloud platform to tap into new sources of revenue."
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.
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SOURCE Pareteum Corporation