Pareteum Corporation (fka TEUM)

[Snackman]

Pareteum Secures $50 Million in New Contracts During August
Date : 09/17/2018 @ 8:30AM
Source : PR Newswire (US)
Stock : Pareteum Corp. (TEUM)
Quote : 2.9394 0.1294 (4.60%) @ 9:44AM

Pareteum Secures $50 Million in New Contracts During August
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Today : Monday 17 September 2018
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NEW YORK, Sept. 17, 2018 /PRNewswire/ -- Pareteum Corporation (NYSE American: TEUM), ("Pareteum" or the "Company"), the rapidly growing Global Software Defined Cloud company, delivering award winning mobile enablement solutions, announced the signing of contracts totaling an additional $50 Million during the last two weeks of August 2018. These new contracts do not include any previously announced awarded contracts. The 36-Month Contractual Revenue Backlog (36MCRB) totaled $375 million at August 31, 2018.

Pareteum Corporation Logo.

Pareteum's new customer agreements include the following applications:

IoT Security providing home monitoring systems
Wireless Mobile Phone Service provider throughout the US
Mobile Application Developer integrating Mobile services with flexible data packages
Mobile provider for Consumer Mobile Brands
Distributor of mobile brands throughout the UK
UK Based Full service mobile provider to Consumer, Enterprise and Banking customers

The following customers are among those recently newly contracted:

ACN Europe
Wing Tel Communications
Secure Watch
Eyethu Mobile Network

Hal Turner, Pareteum's Principal Executive Officer commented, "Customers are accelerating new revenues and substantial savings in ever increasing numbers. It is Pareteum's Global Software Defined Cloud, with its SuperAPI that makes this possible, affordably for our customers. We have assembled a first class sales executive organization, led by Rob Mumby and Vic Bozzo, who with their colleagues are empowering Pareteum customers with disruptive and innovative solutions, every day. This is how we deliver new services creation, enabling new revenues, and operational efficiencies. Our customers' inevitable business growth and competitiveness is why they keep signing new agreements."

About Pareteum:
Pareteum Corporation (NYSE American: TEUM) is a rapidly growing Global Software Defined Cloud company with a mission to connect "every person and everything." Organizations use Pareteum to energize their growth and profitability through our Global Software Defined Cloud and complete turnkey solutions featuring relevant content, applications, and connectivity worldwide. Our Cloud 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 leading Global Software Defined Cloud, delivering award-winning mobile enablement, regardless of the user's location or network. 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, Singapore 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.

Pareteum Investor Relations Contacts:
Ted O'Donnell
Chief Financial Officer
[phone]
[e-mail]

Stephen Hart
Hayden IR
[phone]

Carrie Howes
Rayleigh Capital
Dubai- London
T UAE: [phone] | T UK: [phone] | T CAN: [phone]