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Pareteum Awarded $3.5 Million Agreement by British Multinational ConglomerateNEW YORK, Aug. 14, 2018 /PRNewswire/ -- Pareteum Corporation (NYSE American: TEUM), ("Pareteum" or the "Company"), the rapidly growing Global Cloud Software company, delivering award winning mobile enablement solutions, announced today that a British multinational conglomerate group company based in London, United Kingdom (UK), has selected Pareteum's Global Software Defined Cloud (GSDC) in a 3-year $3.5 Million Agreement to offer mobile and wireless connectivity services to their retail customer base, expanding services across the UK. The group owns the UK's second largest wholesaler serving 125,000 independent retailers from 64 warehouses nationwide, and additional businesses in the UK and other geographies. Pareteum's GSDC enables our new British multinational customer to operate from an integrated software platform and to offer services to its full group of companies for Cloud Enabled Mobility services. Under the terms of the contract, service deployment is expected by the end of September 2018, and, 2018 revenue contribution from this agreement is expected at approximately $125,000. The balance of the backlog is expected to be recognized over the ensuing 33 months from January 1, 2019, and, may exceed the backlog balance on this one contract based upon more connections (subscribers) being activated, and more variable data usage consumption. Vic Bozzo, Chief Executive Officer of Pareteum, stated, "Our market-leading technology will continue to attract more customers, as Pareteum's single source GSDC unlocks immediate revenue opportunity for businesses. We are driving hard to grow our customer base and market share, as we innovate and integrate the latest technology the market has to offer into our platform." Hal Turner, Executive Chairman and Principal Executive Officer of Pareteum, commented, "We are very pleased to add this substantial UK based multinational group company to our growing roster of customers. This selection of Parteum by a company that generates approximately $4 billion in revenue across a wide range of business sectors and geographies, reinforces that we are rapidly becoming a partner of choice because of the power of our Global Software Defined Cloud and our high-end software, offered as a superAPI. With the ability to deliver cutting-edge services, our strategies are expected to enable and accelerate the world's shift to an open mobility and application network." About Pareteum Corporation: Forward Looking Statements: Pareteum Investor Relations Contacts: Stephen Hart Carrie Howes
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