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Pareteum Signs Two New UK-Based Customers Adding $1,000,000 in Revenue Backlog for TEUM Global Mobility Cloud Platform and Home Location Register-as-a-ServiceNEW YORK, July 20, 2017 /PRNewswire/ -- Pareteum Corporation (NYSE MKT: TEUM), ("Pareteum" or the "Company"), a leading communications technology provider to global Mobile, MVNO, Enterprise and IoT markets, today announced that it has been awarded two new cloud services contracts from UK-based Communications Service Providers (CSP's) for its on-demand hosted Home Location Register (HLR) services. This marks the second and third customers for its HLR-as-a-Service product, which was announced in May 2017. These new three-year contracts represent more than 50,000 new subscriber equivalents and an additional $1,000,000 to Pareteum's current revenue backlog. These new customers will utilize the subscriber database management and billing capabilities of TEUM Global Mobility Cloud Platform to manage their end users' mobile devices. In addition to increasing sales through these new relationships, Pareteum benefits by extending its coverage area for TEUM Global Connection, our mobile connectivity solution, by leveraging the networks of these customers. "We are delighted to welcome these new customers to TEUM Global Mobility Cloud Platform. There has been significant interest from prospective customers since this product was announced. Many service providers have begun to look at TEUM Global Mobility Cloud Platform to cost-effectively outsource their subscriber management functionality and increase their revenues without having to invest in additional staff or internal sub-systems," stated Rob Mumby, Pareteum's SVP Worldwide Sales. "Virtualized services are a new source of revenue for Pareteum and the opportunity in this market sector will continue to drive the expansion we seek. "Billions of connected devices are coming online driven by new IoT services. Exponential growth is expected in the data communicated among multiple subscriber networks. All of this information requires metering, charging, billing and reporting to assure proper payments among the networks and their subscribers. These are the capabilities that are inherent in TEUM's Software as a Service offering. We firmly believe that the need for our flexible infrastructure platforms, including TEUM Global Mobility Cloud Platform, will dramatically expand," said Hal Turner, Executive Chairman of Pareteum. "Pareteum's solutions continue to demonstrate an ability to disrupt the traditional model of mobile communications service delivery." About Pareteum Corporation Pareteum Corporation and its subsidiaries provide a complete mobility cloud platform, utilizing messaging and security capabilities for the global Mobile, MVNO, Enterprise, Software-as-a-Service and IoT markets. The Company's software solutions allow any organization to harness the power of a wirelessly connected world by delivering seamless connectivity and subscriber management capabilities that provides end-to-end control of millions of connected devices. Mobile Network Operator (MNO) customers include Vodafone, the world's second largest mobile operator by customer count, Zain, one of the largest mobile operators in the Middle East, as well as MVNO customers such as Lebara and Lowi. For more information please visit: www.pareteum.com. Forward Looking Statements: Pareteum Investor Relations Contact:
View original content with multimedia:http://www.prnewswire.com/news-releases/pareteum-signs-two-new-uk-based-customers-adding-1000000-in-revenue-backlog-for-teum-global-mobility-cloud-platform-and-home-location-register-as-a-service-300491306.html SOURCE Pareteum Corporation |