3-Year Contract for New Connectivity Solution Created with iPass Licensing Agreement
NEW YORK, May 16, 2018 /PRNewswire/ -- Pareteum Corporation (NYSE American: TEUM), ("Pareteum" or the "Company"), the rapidly growing Cloud Communications Platform company, announced today that their existing U.S. Wireless Internet Service Provider customer will expand connectivity options by adding SmartConnect™ technology through Pareteum's Global Cloud Service Platform (GCSP), a single source solution. The amendment to the existing agreement will add $2 million in revenue to the existing 3-year contract.
This U.S. Rural Service Provider was announced as a Pareteum customer April 2018. Pareteum's strategic alliance with iPass will enable this enterprise customer to offer connectivity options in areas that have been historically underserviced. The WiFi technology, working in tandem with cellular access, provides secure wireless services in areas where connectivity options have previously been limited and unreliable.
"Pareteum is working to address the new emerging business needs that our customers place in front of us. Our cloud communications platform is setting the pace by embedding new alternative communications solutions such as WiFi offload that enhance the end-customers' experience by seamlessly expanding their connectivity accesses and quality. With this, Pareteum reinforces its presence in the market as an industry innovator," commented Vic Bozzo, Chief Executive Officer of Pareteum.
Hal Turner, Pareteum's Executive Chairman and Principal Executive Officer, stated, "Our customers want untethered connections without security concerns. Pareteum's drive, for connecting any device, any time, and anywhere resides in the relationship we establish with our customers, granting reliable and formidable solutions to their demands. Customer service and customer care continue to lead our sales initiatives with innovative technology in tandem with our Global Solutions Cloud Platform, managing and connecting these service capabilities."
The mission of Pareteum Corporation (NYSE American: TEUM) is to connect "every person and everything." Organizations use Pareteum to energize their growth and profitability through cloud communication services and complete turnkey solutions featuring relevant content, applications, and connectivity worldwide. Our platform services partners (technologies integrated into our Cloud) include: HPE, IBM, Sonus, Oracle, Microsoft, and other world class technology providers. All of the relevant customer acquired value is derived from Pareteum's award winning software, developed and enhanced for many years. By harnessing the value of communications, Pareteum serves retail, enterprise and IoT customers. Pareteum currently has offices in New York, Sao Paulo, Madrid, Barcelona, Bahrain and the Netherlands. For more information please visit: www.pareteum.com.
About iPass Inc.
iPass (IPAS) is a leading provider of global mobile connectivity, offering simple, secure, always-on Wi-Fi access on any mobile device. Built on a software-as-a-service (SaaS) platform, the iPass cloud-based service keeps its customers connected by providing unlimited Wi-Fi connectivity on unlimited devices. iPass is the world's largest Wi-Fi network, with more than 64 million hotspots around the globe, at airports, hotels, train stations, convention centers, outdoor venues, inflight, and more. Using patented technology, the iPass SmartConnect™ platform takes the guesswork out of Wi-Fi, automatically connecting customers to the best hotspot for their needs. Customers simply download the iPass SmartConnect app to experience unlimited, everywhere, and invisible Wi-Fi. iPass® is a registered trademark of iPass Inc. Wi-Fi® is a registered trademark of the Wi-Fi Alliance. All other trademarks are owned by their respective owners.
Forward Looking Statements:
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to Pareteum's plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about Pareteum's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of Pareteum may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, Pareteum also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from those projected or suggested in Pareteum's filings with the Securities and Exchange Commission, copies of which are available from the SEC or may be obtained upon request from Pareteum Corporation.
Pareteum Investor Relations Contacts:
Chief Financial Officer
T UAE: +971 (0) 55 997 0427 | T UK: +44 (0) 870 490 5443 | T CAN: +1 416 900 3634
iPass IR Contacts
Kirsten Chapman / Becky Herrick
LHA Investor Relations
+1 (415) 433-3777
View original content with multimedia:http://www.prnewswire.com/news-releases/pareteum-awarded-2-million-agreement-for-wifi-services-300649251.html