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Pareteum Accepts Shares Of iPass Tendered In Exchange Offer And Completes Acquisition Of iPassNEW YORK, Feb. 13, 2019 /PRNewswire/ -- Pareteum Corporation (Nasdaq: TEUM), a rapidly growing global cloud software communications platform company with a mission to connect "every person and every(thing)," announced today that it has accepted for exchange all shares of iPass Inc. (Nasdaq: IPAS), a provider of global mobile connectivity, and location and performance data ("iPass"), validly tendered in the previously announced tender offer by a wholly-owned subsidiary of Pareteum to acquire all of the outstanding shares of iPass for the agreed consideration of 1.17 shares of Pareteum stock for each share of iPass. The shares accepted represent approximately 66.78% of iPass's outstanding shares of common stock. The tender offer expired at 5:00 pm, New York City time, on February 12, 2019. Pareteum acquired the remaining outstanding shares of iPass's common stock through a merger of a wholly-owned subsidiary of Pareteum with and into iPass immediately following expiration of the tender offer and acceptance of the iPass shares on February 12, 2019. Following the merger, iPass shares will cease to be traded on Nasdaq. Mr. Robert H. Turner, Executive Chairman and Principal Executive Officer of Pareteum commented: "We're delighted to announce the completion of our acquisition of iPass. We will now accelerate as one company with combined software products and services, the expansion of addressable markets and the resulting executive and operating talent. Our integration with iPass immediately grows our installed Connections base, adding marquee brands to our portfolio of customers, and it also materially enhances our software portfolio of services, and adds global access to the world's largest Wi-Fi network. About Pareteum: For more information please visit: www.pareteum.com. Cautionary Note Concerning Forward-Looking Statements The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement; the outcome of any legal proceedings that have been or could be instituted against iPass or its directors or Pareteum related to the merger agreement; the effects of local and national economic, credit and capital market conditions on the economy in general, and other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the SEC, including, but not limited to, those detailed in iPass' Annual Report on Form 10-K for the year ended December 31, 2017 and iPass' most recent quarterly report filed with the SEC, and Pareteum's Annual Report on Form 10-K for the year ended December 31, 2017 and Pareteum's most recent quarterly report filed with the SEC. The forward-looking statements contained herein are made only as of the date hereof, and the company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Additional Information and Where to Find It Pareteum Investor Relations Contacts: Stephen Hart Carrie Howes
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