NEW YORK, May 24, 2017 /PRNewswire/ -- Pareteum
Corporation (NYSE MKT: TEUM),("Pareteum" or the
"Company"), a leading international provider of mobile
networking software and services to the Mobile Network and Internet
of Things markets, today announced that it has been awarded a new
cloud services contract by a UK-based Communications Service
Provider (CSP) under which it will provide on-demand hosted Home
Location Register (HLR) services. The new CSP customer intends to
utilize the subscriber database management and billing capabilities
of the Company's Global Mobility Cloud Platform to manage its end
users' mobile devices. The service will be established in the third
quarter with the expectation of transaction-based revenue to
commence during the fourth quarter.
The main database location of permanent subscriber information
for a mobile network is the Home Location Register, or HLR. This
database contains pertinent user information such as address,
account status, and preferences and is searched each time any
mobile connection is attempted, usually through the carrier
initiating the call or through one of a number of authorized
database service providers who generate revenue on a per-lookup
fee. With the advent of mobile devices that allow users to switch
services, especially when roaming, subscriber control and
management can become difficult and expensive as millions of
devices attempt to establish millions of network connections each
day. By moving the Home Location Register and subscriber database
management into the cloud, delivered in a Software-as-a-Service
model through Pareteum's Global Mobility Cloud Platform, CSPs can
cost-effectively manage growing numbers of mobile devices,
including network metering and billing, without a large upfront
investment in infrastructure hardware and with lower, "pay as you
go" transaction costs.
"Our Global Mobility Cloud continues to demonstrate its ability
to disrupt the traditional model of mobile communications service
delivery. With today's contract award, we are creating an entirely
new capability that can further transform the industry," said
Hal Turner, Executive Chairman of
Pareteum. "As adoption of mobile communications accelerates, driven
by new IoT services, billions of connected devices are set to come
on line, bringing virally spiraling amounts of data that require
metering, charging, billing and reporting, all critical
capabilities inherent in our Software-as-a-Service offerings. We
firmly believe that the need for our flexible infrastructure
platforms will dramatically expand, and, we are confident that
Pareteum's technology will further prove that it is well positioned
to meet the industry's evolving needs."
The new service offering is enabled through the Company's
patented "SIM-free HLR Migration" technology which allows any
Mobile Network Operator (MNO), Mobile Virtual Network Operator
(MVNO) or CSPs to seamlessly migrate a subscriber from one central
subscriber database to another, without requiring the issuing of a
new SIM (Subscriber Identity Module) to end users. Another key
benefit of the SIM-Free HLR Migration technology is its critical
ability to authenticate a mobile device when it accesses an
operators' network since all devices accessing a mobile network are
required to provide its subscriber identifier which allows the
carrier's Home Location Register to authenticate it each time it
connects to the mobile communication network. With the SIM-Free HLR
technology, the subscribers' individual security-code is
fully-secured and embedded to eliminate any potential data access
risks.
Vic Bozzo, Chief Executive
Officer of Pareteum, added, "Today, Home Location Register services
represent a multi-billion dollar a year industry for providers
around the world who generate fees based upon millions and millions
of look-up transactions. Because our Global Mobility Cloud platform
already enables customers to cost effectively outsource all of
their subscriber management functionality, it is ideally suited to
support high-transaction volume services such as HLR-as-a-Service.
With this new customer, we intend to leverage our Intellectual
Property and the core capabilities of our cloud platform to tap
into new sources of revenue."
About Pareteum Corporation
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 please visit: www.pareteum.com.
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.
Shareholder Contact:
Steve Gersten
(813)
926-8920
InvestorRelations@Pareteum.com
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SOURCE Pareteum Corporation