NEW YORK, May 11, 2018 /PRNewswire/ -- Pareteum Corporation (NYSE American: TEUM), ("Pareteum" or the "Company"), the rapidly growing mobile Cloud Communications Platform company, announced today the deployment of its cloud services for a U.K. based provider of smart home and office automation systems. These services enable this established provider to integrate their Smart Control Hubs with Pareteum's Cloud Platform, moving from a complex legacy system to a very dynamic, flexible and cost-efficient cloud solution, granting simpler access and management when it comes to their customers' connectivity. The 3-year sales contract was first announced on February 14, 2018, valued at $1.5 million.
The customer will use Pareteum's Global Cloud Services Platform (GCSP) to connect over 250,000 U.K. residences and businesses and receive revenue from subscriber monthly fees along with usage-related fees such as wireless airtime and transaction fees.
Vic Bozzo, CEO of Pareteum commented, "Pareteum's GCSP solution allows this service provider to create service plans specific to their customers' needs. As the demand for smart home technology grows, Pareteum will continue to develop and deliver new technologies to address the needs of our customers as well as addressing the needs of their end-customers."
Hal Turner, Founder and Executive Chairman of Pareteum stated, "Pareteum is in a trajectory of relentless forward motion. We aim to disrupt traditional industry models by creating a single seamless solution that addresses the complexity of customer needs.From Sales, to Delivery, to Operations, our TEUM is on fire."
About Pareteum: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: Ted O'DonnellChief Financial Officer(212) 984-1096 InvestorRelations@pareteum.com
Stephen HartHayden IR917-658-7878
Carrie HowesRayleigh Capital Dubai- LondonT UAE: +971 (0) 55 997 0427 | T UK: +44 (0) 870 490 5443 | T CAN: +1 416 900 3634
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SOURCE Pareteum Corporation
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