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Pareteum Adds $3 Million Global Cloud Services Contract
NEW YORK, May 17, 2018 /PRNewswire/ -- Pareteum Corporation (NYSE American: TEUM), ("Pareteum" or the "Company"), the rapidly growing Cloud Communications Platform company, announced today that an established UK-based enterprise has selected Pareteum and Global Cloud Services Platform (GCSP) to empower their global security service offering.
This new customer provides an array of global security services in over 90 countries, including home, fire, and security monitoring, as well as, business enterprise solutions ranging from employment screening and facilities management to enhanced tactical operations. Under the terms of the 3-year agreement, Pareteum will be paid monthly revenue for each wireless connected device managed by the Pareteum Global Cloud Services Platform. GCSP services provided to our customer enables secure connectivity, application provisioning, and monitoring for their more than 30 thousand subscribers.
Vic Bozzo, CEO of Pareteum commented, "Pareteum's Global Cloud Services Platform is a great fit for this client, with its safe and efficient connectivity that will complement the client's security monitoring solutions across the globe. We are pleased with the hard work of our sales team that has once again demonstrated the speed and agility of our GCSP in delivering solutions that provide immediate value to our customers."
Hal Turner, Executive Chairman and Principal Executive Officer of Pareteum stated, "Pareteum is a company that has a customer caregiver approach to sales. By continuing to bring our award-winning technology to new segments, it is our customer-recognized services and support, that keep them happy, and they are. Our newest customer is a clear indicator of our solutions addressing defined needs for secure application management and connectivity, globally, as the market-trends have suggested. Our vision of global open mobility and open applications continues to be realized, customer by customer, win by win."
According to Statista, the market for global revenue business process outsourcing and information technology outsourcing amounted to around $88.9 billion in 2017.
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. Our platform services partners (technologies integrated into our cloud) include: HPE, IBM, Ribbon Communications (Sonus+GenBand), NetNumber, Oracle, Microsoft, and other world class technology providers). All of the relevant customer acquired value is derived from Pareteum's award winning software, developed and enhanced for many years. 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 Contacts:
Chief Financial Officer
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