Pareteum Powers International Expansion for API Company with 3-Year Contract for Global Mobility Cloud Platform and Connectivity
Continues to Gain Market Traction in $66 billion Global Telecom API Market
- Expanding and Diversifying Customer Base
NEW YORK, NY / ACCESSWIRE / October 11, 2017 / Pareteum Corporation (NYSE American: TEUM), ("Pareteum" or the "Company"), the rapidly growing mobile Cloud Communications Platform company, today announced it has been awarded a 3-year contract for its Global Mobility Cloud services including international network enablement and connectivity from a growing application programming interface (API) company to help them expand internationally.
Using Pareteum's Global Mobility Cloud Platform enables this customer to provide its enterprise subscribers a management platform for mobile subscribers and access to roaming networks. Pareteum will receive recurring monthly fees for subscribers on its platform, as well as transactional revenue each time one of them makes a data transaction through a connection to Pareteum's API's.
"Our customer is rapidly expanding globally and needed a partner with mobile network experience and a platform they could plug their API's directly into to provide mobile enablement and connectivity," stated Rob Mumby, Pareteum's Chief Revenue Officer. "By continuing to leverage our platform and reach, Pareteum enables customers to penetrate new markets and gain seamless connectivity on any network, anywhere, anytime, without spending more capital."
"We continue to see the API economy increase exponentially. Enterprise users are looking for increased integration to their applications and this innovative use of API technology allows for seamless integration between our platform and our new customers' APIs. As the app economy grows, the integration through APIs grows, and the leaders in this space are starting to take shape," stated Hal Turner, Executive Chairman of Pareteum. "We believe Pareteum is emerging as a leader in API enablement through our Global Mobility Cloud Platform."
The global telecom API market was $66 billion in 2016 and is expected to grow at a CAGR of 22% to $219 billion by 2022.
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