Pareteum wins global Internet of Things contract

Pareteum Corporation (NYSE American: TEUM), the rapidly growing mobile Cloud Communications Platform company, has announced that it has secured a three-year contract with a European global provider of IoT security to network providers and Electronic Sims embedded directly in IoT devices, the company said.

The new contract will extend the reach of this communication services provider by enabling the use of Pareteum´s Global Mobility Cloud for “Connections” to their IoT devices. Pareteum will receive recurring platform fees and transactional usage fees for each device that is connected. The devices cover a spectrum of uses, including home automation systems, security and alarm systems, intelligent logistics systems, climate and atmosphere control monitoring, as well as smart health monitoring devices.

In conjunction with the recently announced China-focused MVNO (USD 1 million) and the major Eastern European Smart City (USD 8 million), Pareteum has added over USD 13 million to its 36-month contractual revenue backlog in December alone.

Pareteum Corporation and its subsidiaries provide a complete mobility cloud platform, utilizing messaging and security capabilities for the global Mobile, MVNO, Enterprise, Software-as-a-Service and IoT markets. The company´s software solutions allow any organization to harness the power of a wirelessly connected world by delivering seamless connectivity and subscriber management capabilities that provides end-to-end control of millions of connected devices. Mobile Network Operator (MNO) customers include Vodafone, the world´s second largest mobile operator by customer count, Zain, one of the largest mobile operators in the Middle East, as well as MVNO customers such as Lebara and Lowi. For more information visit: www.pareteum.com.