NEW YORK, April 9, 2020 /PRNewswire/ -- Pareteum
Corporation (Nasdaq: TEUM), a cloud communications platform
company, announced today that on March 26th,
2020, its European operating subsidiary entered into a
procurement agreement (the "Agreement") with Vodafone Enabler
Espana, S.L. ("Vodafone") pursuant to which Pareteum Europe will
provide Vodafone with mobile network services. The Agreement
is a new contract for existing and future services valid until 26th
of March 2022 with automatic one-year
extensions unless terminated earlier. The Agreement is
expected to result in payments to Pareteum based on the numbers of
subscribers per month.
"We are thrilled to expand our partnership with Vodafone and
deliver our Mobile Virtual Network platform to a world leading
telecom and technology service provider," said Bart Weijermars,
Interim Chief Executive Officer of Pareteum. "This is another great
example of how Pareteum enables brands to deliver connectivity
services under one platform on a global basis, and we look forward
to continuing our relationship with Vodafone."
About Pareteum Corporation
Millions of people and devices are connected around the world
using Pareteum's Global Cloud Communications Platform, enhancing
their mobile experience. Pareteum unleashes the power of
applications and mobile services to bring secure, ubiquitous,
scalable, and seamlessly available voice, video, SMS/text
messaging, data, media, and content enablement to our customers. In
so doing, we are able to make worldwide communications services
easily and economically accessible to everyone. By harnessing the
value of our cloud communications platform, Pareteum serves
enterprises, communications service providers, early stage
innovators, developers, IoT, and telecommunications infrastructure
providers. Pareteum envisions a new mobile communications
experience, imagining what will be and delivering now. For more
information please visit: www.pareteum.com.
About Vodafone Group
Vodafone Group is one of the world's leading telecoms and
technology service providers. We have extensive experience in
connectivity, convergence and the Internet of Things, as well as
championing mobile financial services and digital transformation in
emerging markets.
Vodafone Group has mobile operations in 24 countries, partners
with mobile networks in 42 more, and fixed broadband operations in
19 markets. As of 31 December 2019,
Vodafone Group had approximately 625 million mobile customers, 27
million fixed broadband customers and 22 million TV customers,
including all of the customers in Vodafone's joint ventures and
associates. For more information, please
visit: www.vodafone.com.
Forward Looking Statements
Certain statements contained herein constitute "forward-looking
statements" as defined by 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. These risks include, among other things (1) the ability
to complete Pareteum's restatement of its previously
issued consolidated financial statements as of and for the full
year ended December 31, 2018, and
interim periods ended March 31, 2019
and June 30, 2019 and address any
material weaknesses, the timing of the completion of necessary
restatements, interim reviews and audits by the Company's
independent registered public accounting firm, (2) risks relating
to the substantial costs and diversion of personnel's attention and
resources deployed to address the restatement of the affected
financial statements and internal control matters, (3) the risk of
litigation or regulatory action arising from the restatement of the
affected financial statements, (4) the timing of the review by, and
the conclusions of, the Company's independent auditor regarding the
restatement, (5) the ability of the Company to remediate any
material weaknesses in internal control over financial reporting,
(6) potential reputational damage that the Company may suffer as a
result of the restatement of the affected financial statements, (7)
the impact of the restatement of the affected financial statements
on the value of the Company's common stock, and (8) the risk that
the filing of the restatement of the affected financial statements
will take longer than anticipated. Given these risks and
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.
Media Inquiries
Press@pareteum.com
Pareteum Investor Relations Contacts:
Investor
Relations +1 (646) 975-0400
investor.relations@pareteum.com
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SOURCE Pareteum Corporation