Pareteum awarded $6 Million Global Cloud Agreement Supporting Internet of Things Services

NEW YORK, April 30, 2018 /PRNewswire/ -- Pareteum Corporation (NYSE American: TEUM), ("Pareteum" or the "Company"), the rapidly growing Cloud Communications Platform company, announced today that it has signed a 3-year contract to provide its Global Cloud Services Platform (GCSP) to an established Enterprise Integrator and Managed Service Provider in Asia and the Indian Subcontinent.

Pareteum's GCSP solution will enable our new customer and enterprise clients to manage global wireless devices, and, to operate from a single platform for provisioning, monitoring and management of all their applications and connectivity. Under the terms of the contract, Pareteum will be paid monthly for every device that is managed by the platform as well as revenue for the wireless connectivity. As new wireless devices are added by these enterprise customers, they will have a global interface that facilitates their optimization and choices for the best connectivity available. These are service features made possible by the Pareteum global cloud and its recently announced strategic partnerships.

Vic Bozzo, CEO of Pareteum commented, "This opens up a whole new market sector for us as the companies that provide IT outsourcing and Managed Service to enterprises push deeper into the Internet of Things industry. As our tools enable them to create more efficient enterprises, we see the opportunity to help them use the power of the cloud to scale exponentially. This contract is opening Pareteum to the unlimited potential created by the wireless device universe."

Hal Turner, Executive Chairman and Principal Executive Officer of Pareteum stated, "Pareteum's overarching strategies, which are centered on open mobility and applications networks, globally, are now further supported by this ecosystem addition, which enables the virtual elimination of geographic boundaries. Delivery of our award-winning services is now aimed from around the globe to this South Asia region, with over 200 million people. We expect our mission of wireless everywhere, and, on demand, plus smart cities and enterprise business models, to quickly scale in this region."

According to Statista the global revenue business process outsourcing and information technology outsourcing amounted to around 88.9 billion U.S. dollars in 2017.

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.

Forward Looking Statements:
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to Pareteum's plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about Pareteum's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of Pareteum may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, Pareteum also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from those projected or suggested in Pareteum's filings with the Securities and Exchange Commission, copies of which are available from the SEC or may be obtained upon request from Pareteum Corporation.  

Contractual Revenue Backlog Definition: 
Contractual revenue backlog is measured on a forward looking 36 month snapshot view monthly, and, is generated by each of the Company's Managed Services, Global Mobility Cloud, and Application Exchange & Developer's Platform customers. The Pareteum multi-year Software-as-a-Service agreements include service establishment and implementation fees, guaranteed minimum monthly recurring fees, as well as contractually scheduled subscribers, in some cases including subscriber usage, during the term of the agreement, and, their resulting monthly recurring revenue. There can be no assurances that we reach the total revenue backlog. The contract revenue backlog ("Non-GAAP") assumes timing of revenue recognition that may vary from actual results. The contract revenue backlog is a Non-GAAP management reporting measure and differs from any revenue or earnings outlook that may be provided from time to time by other means.  This Non-GAAP measurement is not recognized under generally accepted accounting principles ("GAAP"). Accordingly, investors are cautioned about using or relying on these measures as alternatives to recognized GAAP measures. The Company's methods of calculating these measures may not be comparable to similar measures presented by other companies.

Pareteum Investor Relations Contacts: 
Ted O'Donnell
Chief Financial Officer
(212) 984-1096
InvestorRelations@pareteum.com

Stephen Hart
Hayden IR
917-658-7878

Carrie Howes
Rayleigh Capital
Dubai- London
T UAE: +971 (0) 55 997 0427 | T UK: +44 (0) 870 490 5443 | T CAN: +1 416 900 3634

View original content with multimedia:http://www.prnewswire.com/news-releases/pareteum-awarded-6-million-global-cloud-agreement-supporting-internet-of-things-services-300638663.html

SOURCE Pareteum Corporation