Genza Partners with Pareteum to Launch United Kingdom-based MVNO

Rhea-AI Summary

Pareteum Corporation (Nasdaq: TEUM) announced a partnership with Geneva-based Genza to establish a Mobile Virtual Network Operator (MVNO) in the UK. Utilizing the Pareteum Experience Cloud, Genza will access voice and SMS capabilities, enabling robust customer engagement across mobile and social channels. The partnership aims for a rapid market launch, fulfilling specific service requirements while reducing overhead costs. Pareteum's platform supports diverse communication services, enhancing connectivity and reliability for international voice quality.

Positive

• Partnership with Genza to launch MVNO in the UK, potentially increasing market presence.
• Access to Pareteum's comprehensive Experience Cloud enhances service offerings for Genza.
• Cost savings for Genza through Pareteum's ready-made voice and SMS solutions.

Negative

• None.

NEW YORK, Sept. 3, 2020 /PRNewswire/ -- Pareteum Corporation (Nasdaq: TEUM), a global cloud communications platform company, announced today that it has partnered with Genza, a Geneva-based telecommunications company, to build an MVNO serving the UK market.

By utilizing the Pareteum Experience Cloud platform, Genza will have access to the voice and SMS capabilities enabling access to the best cellular networks and fully programmable B2C messaging capabilities across a wide range of mobile and social channels.

The Pareteum Experience Cloud enables a host of powerful mobility, customer engagement, analytics, and intelligence services over the world's largest unified global network. This includes global Wi-Fi and cellular connectivity, inflight Wi-Fi service, application-to-person (A2P) messaging, interactive voice response (IVR), missed call alert, location intelligence, and more. The platform's SaaS model enables rapid time to market for service launches and expansions and allows brands to pay-as-they-scale.

Genza's mission is to make a difference through digital innovation, to enlarge the global market, and to help make people more confident and comfortable with communications. Genza develops direct interconnections via private and public internet with MVNOs, fixed line  and mobile operators. Whether addressing hard-to-reach locations or destinations with dependable connectivity options, their goal is to provide a reliable and straightforward service that is quality-conscious and aimed at improving international voice quality.

"The Pareteum Experience Cloud offers service providers a wide array of useful tools," said Efe Demir, Genza's International Business Development Director. "By leveraging Pareteum's ready-made voice and SMS offerings, we were able to simultaneously save on overhead and development costs and facilitate an expedited rollout to our UK customer-base."

"The Experience Cloud is an incredibly adaptive platform, capable of fulfilling the unique demands of just about any service provider," said Bart Weijermars, Pareteum's interim CEO. "Our partnership with Genza, who had very specific requirements that needed to be addressed as quickly as possible, is emblematic of this adaptability."

About Pareteum Corporation

Pareteum is an experienced provider of Communications Platform as a Service solutions. Pareteum empowers enterprises, communications service providers, early stage innovators, developers, IoT, and telecommunications infrastructure providers with the freedom and control to create, deliver and scale innovative communications experiences. The Pareteum platform connects people and devices around the world using the secure, ubiquitous, and highly scalable solution to deliver data, voice, video, SMS/text messaging, media, and content enablement. For more information please visit: www.pareteum.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 the Company's plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company'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, including risks arising from the novel coronavirus (COVID-19) pandemic. We discuss many of these risks, uncertainties and assumptions in Item 1A under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2018, as updated by our other filings with the SEC. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company 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 the Company's filings with the Securities and Exchange Commission, copies of which are available from the SEC or may be obtained upon request from the Company.

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

FAQ

What is the partnership between Pareteum and Genza about?

The partnership aims to establish a Mobile Virtual Network Operator (MVNO) in the UK, leveraging Pareteum's Experience Cloud.

How will the Pareteum Experience Cloud benefit Genza?

It provides Genza with voice and SMS capabilities, improving customer engagement and connectivity across various channels.

What does the MVNO partnership mean for Pareteum's stock (TEUM)?

The partnership could enhance Pareteum's market presence and revenue potential, positively impacting its stock performance.

When was the announcement made regarding the partnership?

The announcement was made on September 3, 2020.