Pareteum Corporation (NYSE American: TEUM), the rapidly growing Cloud Communications Platform company, announced today that an established Global Mobile Virtual Network Operator (MVNO) has chosen Pareteum's Global Cloud Service Platform (GCSP), a single-source solution, to launch their new European-based MVNO. The 3-year agreement will add $8 million in revenue beginning end of 2018.
The Global Enterprise customer will use Pareteum's GCSP to expand their business and grow revenue from a new European based MVNO. Their 100 thousand existing customers will be moved to the Pareteum GCSP as soon as the project launch is complete, enabling the MVNO to offer more options for secure and reliable connectivity for voice, data and SMS.
"Pareteum redefines the industry standard by coloring outside the lines. Marketing companies seek mastery and innovation when it comes to superior subscriber experience. Recognizing this need, Pareteum designed an Insight Engine that uses Predictive Analytics to allow marketing companies better management of subscribers and their experience, irrespective of network," commented Vic Bozzo, Chief Executive Officer of Pareteum.
Hal Turner, Pareteum's Executive Chairman and Principal Executive Officer, stated, "Pareteum is in the business of creating opportunities. Providing a vast array of connectivity options, globally, increases our ability to support our customers, their customer base, and their revenue stream as Pareteum continues to improve connectivity around the world for subscribers. This is the 'network effect' at its best when we think about open mobility and open applications, everywhere."
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.
