Pareteum Awarded $1.4 Million Contract in Asia-Based Digital Online Marketplace
Fri February 23, 2018 8:00 AM|PR Newswire|About: TEUM
PR Newswire
NEW YORK, Feb. 23, 2018 /PRNewswire/ -- Pareteum Corporation (TEUM), the rapidly growing Cloud Communications Platform company, today announced it has been awarded a 3-year contract to provide its Global Cloud Platform to an online retail marketplace company. Pareteum will enable this online retailer, which has experienced exponential growth in Asia, to launch a Mobile Virtual Network Operator (MVNO) focused on providing service throughout Asia and their expanding global customer base. The contract is scheduled to add over $1,400,000 to Pareteum's 36-month contractual revenue backlog based on the initial schedule of connections and active users.
Under the terms of the agreement, the customer, which services retailers of all sizes and consumers worldwide, will leverage their growing subscriber base, which has experienced compound annual growth of 85% over the last 3 years, by providing mobile services powered by Pareteum's Global Cloud Platform. These services include voice, messaging and data, which will be accessed through their online marketplace portal, and, will be integrated directly to the Pareteum Cloud Platform for automated provisioning and distribution. Pareteum will receive monthly fees for subscribers' connections to the platform and mobile airtime fees on an ongoing basis. The current Asian markets, served by our newest customer, have millions of addressable and potential users. Our Asia based Digital On-Line Marketplace service operator expects to launch its new MVNO services fully powered by Pareteum in the third quarter of 2018, with initial subscribers that are currently regular users of their marketplace portal opting in and numbering in the tens of thousands.
Vic Bozzo, Chief Executive Officer of Pareteum, stated, "We are delighted to have been chosen for this opportunity and look forward to further expanding our customer base into the Asia Pacific Region. Our platform capability to be connected anywhere along with our ability to provide a turnkey solution, which can be directly integrated with online communities, is beginning to transform the speed at which connections and subscribers can be onboarded."
Hal Turner, Executive Chairman and Principal Executive Officer of Pareteum, stated, "At Pareteum, our mission is to create an easily accessible open mobility system for the world to connect 'every person and everything.' Providing an intuitive onramp for our customers who desire a single solution to solve their multi-faceted, geographically dispersed connection needs, drives this mission. Our software developments, which have created a powerful cloud platform, with open API's and access to the latest technology enhancements in the software and services market, resonate with companies seeking to create brands and services, or extend their current brands. This is how our customers better serve their customers, how they can now offer services for the mobility needs of their subscribers without costly infrastructure and simplify the creation of new revenue."
About Pareteum Corporation ?The mission of Pareteum Corporation 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, Sonus, 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.
