Pareteum Awarded $4 Million Agreement for Southeast Asia National Mobile Operator

Pareteum (NYSEA:TEUM), the global cloud software company delivering mobile enablement solutions announced that a Southeast Asia national mobile operator has selected Pareteum’s Global Software Defined Cloud in a three year $4 million agreement.

The company said that the agreement lets a complete digital transformation of this mobile operator’s consumer and enterprise Mobile Virtual Network subscribers.

As quoted in the press release:

By combining our new customer’s existing national mobile network with Pareteum’s GSDC, all digital services, including Internet of Things, Mobile Virtual Network Operations and enterprise applications, are aggregated by the creation of this fully integrated turnkey software solution.

As our new client onboards their new customers with Pareteum’s GSDC, their respective brands can now create unique, custom-designed marketing plans for individual subscribers. Under the terms of the contract, initial service deployment is expected by the end of November 2018, and 2018 revenue contribution is approximately $100,000. The balance of the remaining 35-month contractual revenue backlog is expected to be recognized over the remainder of the contract, beginning January 1, 2019.

Vic Bozzo, Chief Executive Officer of Pareteum, stated, “As the digital economy takes over, Asia is quickly growing in connections and investing in software solutions for expanding needs. Pareteum is pleased to provide this client with a single solution that allows them to manage different types of unique clients and tailor their offering each time without having to deploy a new platform.”

Hal Turner, Executive Chairman and Principal Executive Officer of Pareteum, commented, “Pareteum’s mission of open mobility and application networks via our Global Software Defined Cloud is epitomized with our newest customer who has operated successfully in Southeast Asia for more than 5 years, since the competitive deregulation in their country. Pareteum’s SuperAPI provides a flexible solution, without heavy infrastructure capital investment, and, is at the heart of our ability to create geographic freedom to unlock the limitless potential of this connected region.”

Click here for the full text release.