AMSTERDAM, Jan. 26, 2018 /CNW/ -- ET Europe Holding B.V. doing business as 'Pareteum Europe' a wholly-owned subsidiary of Pareteum Corporation (NYSE American: TEUM), ("Pareteum Europe"), today announced that it has signed a €8.7 million Euro, 5-year MVNE (Mobile Virtual Network Enabler) agreement with a new EMEA customer.
A large base of existing subscribers will be moved on to the platform initially and all new mobile subscribers will be added going forward. The agreement can be extended beyond the initial 5 year term and includes significant up-front service establishment fees and guaranteed minimum subscriber connection volumes over the life of the contract.
"This deployment is a significant milestone in increasing our subscriber and connection base and provides a guaranteed revenue stream" said Chris Hills, Pareteum Europe's VP of Worldwide Connectivity.
"We are delighted to increase our platform and global business footprint with this important new customer agreement" stated Alexander Korff, Pareteum's UK-based Company Secretary, "and we expect more opportunities to flow from this relationship, particularly in the wider Central Asian and Caucasus regions".
About Pareteum Europe
Pareteum Europe is a trading name of ET Europe Holding B.V. and a foreign subsidiary of Pareteum Corporation. The aim of Pareteum 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. 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.
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