Pareteum Wins $30 Million in New February Contracts
Adds 20 new customer agreements
New York, NY – March 5, 2019 – Pareteum Corporation (Nasdaq:TEUM), a rapidly growing global cloud software communications platform company with a mission to connect every person and every(thing)™, today announced twenty new customers have executed 3-year contracts during February 2019, valued at $30 million in the company’s expanding 36-month contractual revenue backlog (36MCRB). These new customer transactions geographically span Europe, Middle East, Africa, US and Asia, and include software communications platform service offerings including those from the company’s recent acquisitions of iPass and Artilium.
A sample of these new agreements signed in February 2019 include the following:
- Cloud communications platform and connectivity services for a UK-based Mobile Virtual Network Operator (MVNO)
- Cloud communications platform and connectivity services for a US-based Mobile Virtual Network Operator (MVNO) that offers talk, text and data plans specifically targeted at people of faith
- Cloud communications platform and connectivity services for a US-based Mobile Virtual Network Operator (MVNO)
- Cloud communications platform and connectivity services to power in-vehicle Internet of Things (IoT) devices for a US-based engineering and manufacturing company
- • Messaging, text to speech (TTS), and cloud communications platform for Internet of Things (IoT) global provider based in Africa
- Full Deployment of SmartConnect™ mobile connection management solution with Wi-Fi connectivity to a US based Fortune 1000 enterprise
- SMS (Short Message Service) and voice solution for an Asian Voice over Internet Protocol (VOIP) Global Standard for Mobile (GSM) manufacturer
- SmartConnect™ mobile connection management solution with Wi-Fi connectivity to a US based Fortune 2000 enterprise
Executive Chairman and Principal Executive Officer of Pareteum, Hal Turner commented: “These new customers have chosen Pareteum because we solve real problems and add immediate value to their operations. This is our “Power of ONE TEUM” – by bringing together Pareteum, Artilium, and iPass, we are delivering innovative, easy to use products and services that are the leading edge of this industry. This is how we “reimagine communications” everyday. It is our customers, who have been with us for years and continue to buy more services from us, coupled with our newest relationships, who have benefited most from TEUM’s growing market momentum and have contributed to our ever expanding service reputation for quality and dependability.”
Vic Bozzo, Chief Executive Officer at Pareteum, added: “Our plan to establish Pareteum as the leader in communications services is progressing well. We are very pleased with the traction over the last month and the growing list of customers who are choosing to partner with Pareteum to deliver innovative communications services.”
Take notice:
- 20(!) new customers. In just one month the company adds 20%+ to their customer tally
- Several corporate customers, could it be that they are cross selling from iPass legacy corporate segment, which has over 500 of these? If so, that's VERY significant.