Pareteum Secures $50 Million in New Contracts During August

Pareteum (NYSEA:TEUM) announced that the company signed contracts totaling an additional US$50 million during the last two weeks of August 2018 with the company’s 36 month contractual backlog now standing at US$375 million.

Further, the company said that the new contracts do not include any previously announced contracts or awarded contracts.

As quoted in the press release:

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.”

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