NEW YORK, Nov. 28, 2017 /PRNewswire/ -- Pareteum
Corporation (NYSE American: TEUM), ("Pareteum" or the
"Company"), the rapidly growing mobile Cloud Communications
Platform company, and Artilium plc (LSE/AIM: ARTA), earlier this
year created a strategic alliance and teaming agreement to jointly
pursue new and developed markets, and create accelerated growth and
market penetration for both companies. As a result of the
collaboration, Pareteum announced today it has been awarded a
3-year contract to provide Communications Platform as a Service
(CPaaS) to a Mobile Virtual Network Operator (MVNO) focused on
cross-border mobile service in China and North
America. Pareteum is receiving 100% of revenues from the
contract, which is scheduled to add over $1,000,000 to Pareteum's 36 month contractual
revenue backlog.
Under the terms of the agreement, Pareteum's Global Mobility
Cloud Platform will empower the customer to service the needs of
its subscribers with connections in China and North
America. These services will initially include messaging and
data, and later expand into other offerings.
Vic Bozzo, CEO of Pareteum
stated, "Through this contract, we are enabling our new customer's
China-based subscribers to connect
and transact on their mobile devices anywhere in the world.
Pareteum is powering this new customer to expand its subscriber
revenues through global connectivity and data, without the need for
investment in infrastructure or software."
Bart Weijermars, CEO and Executive Director of Artilium
commented, "This strategic alliance with Pareteum enables Artilium
to leverage our strong presence and reach in global markets,
particularly in Asia and
Africa. While we have access to a
broad base of potential customers in these geographic markets, by
offering Pareteum's industry-leading Global Mobility Cloud
Platform, we are able to sign more customers and at an accelerated
pace to the benefit of Pareteum, Artilium and our joint
customers."
Hal Turner, Founder and Executive
Chairman of Pareteum stated, "This contract is the first of many we
expect from our strategic alliance with Artilium. From reach into
new geographic markets, to the creation and distribution of new
products, we believe our teaming alliance adds unprecedented scope
to both companies. We've had a noteworthy beginning to our
strategic alliance. This bodes well for our joint sales and product
plans for 2018 and our ability to capture new business in exciting
new geographic areas, as well as provide expanded services for
connectivity, mobility, and the digital transactions that require
the scale of our cloud offerings and payment
capabilities."
"Together, Pareteum and Artilium are making 'connections'
happen. Connections is the new industry term used to replace and
reflect the combination of subscribers, SIM cards, devices,
Internet of Things (IoT), and equivalent uses of software utilized
per transaction. Through 2021, connections, including IoT will grow
by an estimated 23% compound annual growth rate (CAGR). Developing
markets such as Asia and
Africa are poised to become major
drivers of this global growth," Turner added.
About Pareteum Corporation
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. 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.
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
InvestorRelations@pareteum.com
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SOURCE Pareteum Corporation