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Pareteum Awarded $4 Million Contract from Diversified Enterprise in AsiaNEW YORK, May 8, 2018 /PRNewswire/ -- Pareteum Corporation (NYSE American: TEUM) ("Pareteum" or the "Company"), announced today that it has signed a 3-year, $4 million contract with a diversified enterprise client in the manufacturing, banking and construction sectors. The established customer will use the Pareteum Global Cloud platform to provide service for their wireless Internet of Things requirements. Pareteum's GCSP solution enables our client's enterprise customers to operate from a single software and connectivity platform to manage wireless devices, and, to provision, monitor and manage all the connectivity for their Internet of Things initiatives in Asia. Under the terms of the 3-year contract, Pareteum will receive monthly recurring fees and wireless connectivity service fees for all devices that are managed by Pareteum's cloud platform. Pareteum's GCSP solution provides a global interface that will facilitate customer optimization and choices in quality and pricing for the addition of new wireless devices wherever they operate. Traditionally, wireless models have not been able to address the existing market need for diversifying options and plans for individual devices. Pareteum's offering is noteworthy to the Internet of Things space in that customers can use its platform to treat each device as unique and therefore apply different rules, policies and connectivity options to each one, depending on the need and the best option available at that specific moment. The granular billing and metering provided by Pareteum's platform creates the opportunity for enterprise clients to better serve the needs of their customers. Vic Bozzo, CEO of Pareteum commented, "Managing of Internet of Things and the respective devices has become a large part of what we do and its made possible by the flexibility created by our software team. We can continue to see unlimited opportunity in the world as wireless controls everything." Hal Turner, Executive Chairman andPrincipal Executive Officer of Pareteum stated, "TEUM's ecosystem, including our partnerships and reach, now enable the virtual elimination of geographic boundaries. Delivery of our award-winning services can be served around the globe through our unique and award-winning technology. We expect our goal of 'wireless everywhere' and smart city and smart enterprise business models to quickly scale in these markets." According to Statista the global revenue business process outsourcing and information technology outsourcing market aggregated to approximately $88.9 billion in 2017. About Pareteum: Forward Looking Statements: Pareteum Investor Relations Contacts: Stephen Hart Carrie Howes
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