Pareteum Corporation (NYSE MKT: TEUM), a leading international provider of mobile networking software and services, has been awarded a new technology development contract from Vodafone Enabler S.L.(VEE), the company said.
Pareteum has received an additional engagement from Vodafone for the deployment of technology that enables the delivery of advanced service capabilities for customers hosted on its cloud platform and includes material upfront payments and additional ongoing fees.
The newest Vodafone Enabler engagement, a significant addition to its existing agreement, expands the capabilities of Pareteum´s customers including Mobile Virtual Network Operators (MVNOs), enterprises and communications service providers to deliver full-feature, advanced mobile services typically available to subscribers on Tier-1 4G networks.
Once completed, the platform enhancement will allow Global Mobility Cloud customers to cost effectively offer mobile subscribers a full array of data-rich capabilities including mobile web access, IP telephony, gaming services, high-definition mobile TV, video conferencing, and VR applications. The company is finalizing development and implementation of the new services for customers by the end of the first quarter of 2017.
As clients are added to the broadband-enabled platform, Pareteum will receive additional monthly recurring subscriber revenue.
Pareteum Corporation, and its subsidiaries provide a complete mobility cloud platform, utilizing messaging and security capabilities for the global Mobile, MVNO, Enterprise and IoT markets. Pareteum´s large MVNE customers include Vodafone (the world´s second largest mobile operator by customer count), Zain (ZAIN, the 4th largest mobile operator in the world in terms of geographical presence), Cleartech, Expeto and other Tier 1 and MVNO customers.