Pareteum Corporation, the rapidly growing Global Cloud Software company, has said that a British multinational conglomerate group company based in London, United Kingdom (UK), has selected Pareteum’s Global Software Defined Cloud (GSDC) in a 3-year USD 3.5 Million Agreement to offer mobile and wireless connectivity services to their retail customer base, expanding services across the UK.

The group owns the UK’s second largest wholesaler serving 125,000 independent retailers from 64 warehouses nationwide, and additional businesses in the UK and other geographies.

Pareteum’s GSDC enables our new British multinational customer to operate from an integrated software platform and to offer services to its full group of companies for Cloud Enabled Mobility services.

Under the terms of the contract, service deployment is expected by the end of September 2018, and, 2018 revenue contribution from this agreement is expected at approximately USD 125,000. The balance of the backlog is expected to be recognized over the ensuing 33 months from January 1, 2019, and, may exceed the backlog balance on this one contract based upon more connections (subscribers) being activated, and more variable data usage consumption.

Commenting on the development, Vic Bozzo, Chief Executive Officer of Pareteum, stated, “Our market-leading technology will continue to attract more customers, as Pareteum’s single source GSDC unlocks immediate revenue opportunity for businesses. We are driving hard to grow our customer base and market share, as we innovate and integrate the latest technology the market has to offer into our platform.”