Publish Date : 08-Sep-2017
Pareteum Corporation, (Pareteum or the Company), the rapidly growing mobile Cloud Communications Platform company, today announced it has been awarded a 3-year contract for its Global Mobility Cloud services from a West Coast enterprise API-based CPaaS (Communications Platform as a Service) provider to power mobility, voice, messaging and infrastructure.
Pareteums Global Mobility Cloud Platform enables this new customer to seamlessly provide mobile connectivity to its unified communication service and developer API which serves sectors from banking to social media, call centers, consumer facing applications and APP store products. Pareteum will receive recurring monthly fees for each subscriber on its platform, as well as transactional revenue each time an application (app) developed on the customers API platform exchanges content using mobile connectivity to complete communication or monetize any transaction.
Our customer is rapidly expanding to serve the growing 50,000-plus API developer community. These developers represent millions of applications that need to be mobile enabled and we believe Pareteums mobility platform and connection is the best solution for this app market and the billions of new wireless devices and subscribers that will grow along with it, stated Vic Bozzo Pareteums CEO. Pareteum is doing for the IoT and unified communication business what we have already done for the MVNO and MVNE business, providing seamless connectivity on any network, anywhere, anytime.
Weve recently seen the API economy, and, the companies that serve it become some of the highest growth tech firms. As the worlds population becomes even more mobile and wirelessly connected, it is estimated the average person will touch up to 1,000 wireless devices daily from every countertop, to every store, to every car, to every appliance encountered. It is our intention, through relationships like this being announced today, to provide the application exchange and developers mobile platform of choice for the API economy. Pareteums fully integrated cloud platform is delivering innovation, growth, and quantifiable value to our customers in the API economy through complete digital turnkey solutions. These customer successes will continue to translate into healthy growth and profitability for our Company, stated Hal Turner, Executive Chairman of Pareteum.
The global telecom API market was $66 billion in 2016 and is expected to grow at a CAGR of 22% to $219 billion by 2022.
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