Pareteum Awarded $38 Million Contract in Asia

Pareteum (NYSEA:TEUM) announced that its Managed Service Platform (MSP) has been chosen in a five year US$38 million contract with an IoT and MVNO provider in Asia.

As quoted in the press release:

This new enterprise customer will use IoT services powered by the Pareteum MSP, and thereby be able to offer a fully-integrated software solution that delivers flexibility through multi-country branded services, digital applications, data services, and traditional mobile services to its subscribers. Under the terms of the contract, Pareteum will support this new customer’s efforts to expand its business throughout southern Asia, including its plans to add WiFi, Blockchain, M2M, and Smart City solutions.

Vic Bozzo, CEO of Pareteum, stated, “This global enterprise client aims to use Pareteum’s MSP to take the market by storm. Our goal is to provide the tools and technology to make that happen. The disruption of industry standards is alive, and it is here and now.”

“Pareteum embraces this opportunity to serve our newest enterprise customer as they expand in Asia,” comments Pareteum Executive Chairman and Principal Executive Officer Hal Turner. “Enabling global software applications, using our SuperAPI with global connectivity and communications access for customers on our software-based cloud enablement platform, translates into the opportunity for limitless growth potential. This is a clear case of both software and mobility driving our vision: global open mobility and open software applications.”

Click here for the full text release.