Leading European Mobile Reseller Selects Pareteum to Convert Customers to its Own MVNO Brand in $3,500,000 Contract
Pareteum’s revenue backlog is now over $100,000,000
New customer is a unified communications supplier that has been servicing some of the largest enterprises in the UK and Europe for over 20 years
Pareteum’s Global Mobility Cloud powers the creation of Mobile Virtual Network Operators (MVNOs) and global connectivity driving customer revenues and expansion
NEW YORK, NEW YORK, October 24, 2017 - Pareteum Corporation (NYSE American: TEUM), (“Pareteum” or the “Company”), the rapidly growing mobile Cloud Communications Platform company, today announced that it has been awarded a cloud services contract from a leading European mobile reseller and unified communications supplier which has been servicing some of the largest enterprises in the UK and Europe for over 20 years. The 3-year contract adds $3,500,000 to Pareteum’s growing revenue backlog, which now stands at over $100,000,000.
Pareteum’s Global Mobility Cloud Platform enables this new customer to transition some of its reseller customers to their own platform and brand, thus creating new Mobile Virtual Network Operators (MVNOs). Pareteum’s customer is utilizing Pareteum’s Global Mobility Cloud Platform and connectivity relationships to take control of its offering and its opportunities for growth as it sells to enterprises of all sizes.
“We are delighted to welcome this new customer to our Global Mobility Cloud and expect this agreement to add significantly to our recurring monthly revenues over the term of the contract as traditional mobile users convert to MVNO based on our cloud platform,” stated Vic Bozzo Pareteum’s CEO. “Backed by two decades of experience working at the intersection of telecom, mobility and the Internet, our customer embraces the idea that telecom and digital ecosystems require secure, universal interactions through any device, anywhere in the world. Pareteum’s Global Mobility Cloud Platform provides exactly this, and is helping this service provider to take more control of its customer experience wherever they originate on any network, anywhere.”
“The global unified communications market size was estimated at $35.65 billion in 2016 according to Grandview Research. Increasing global expansion of multinational organizations from diverse industry verticals has led to a rising need for communication with geographically dispersed customers and employees. Moreover, the introduction of innovative trends such as Bring Your Own Device (BYOD) among organizations worldwide is expected to drive the demand for such unified communications solutions. Pareteum is helping to accelerate this integration and our global mobility cloud is really providing a single interface to these customers to migrate their online retail VOIP and network resale customers to their own platform,” said Hal Turner, Executive Chairman of Pareteum. |
