Pareteum Corporation (Nasdaq: TEUM), a rapidly growing global cloud software communications platform company with a mission to connect every person and every(thing)TM, today announced it has acquired Devicescape, the San Francisco-based mobile location and engagement solutions provider.
The acquisition equips Pareteum customers, including IoT and communications service providers, B2C brands, and smartphone application developers, to engage and connect end users and devices at countless public places across the world.
The Devicescape software solution triggers presence alerts when devices enter venues, allowing Pareteum customers to deliver location-specific mobile engagements such as in-application advertising, coupons, or reminders. It also enables the collection of unique and highly valuable first-party location data.
These location-targeted end user experiences are powered by Devicescape’s Curated Virtual Network (CVN), a software-based aggregation of pre-existing Wi-Fi access points situated in millions of places worldwide.
The patented CVN software adds beacon functionality without the need for new infrastructure by automatically tagging each access point with rich contextual data, including geographic location, venue type, venue name, and performance quality.
Additionally, the software crowd-sources the discovery of new access points and venues. This adds a unique and continuously expanding layer of location intelligence to the Pareteum Cloud Platform and Smart Network.
The acquisition strengthens Pareteum’s intellectual property portfolio considerably, with the addition of 33 patents globally, and adds key engineering and executive talent, including Devicescape CEO Dave Fraser, and CTO John Gordon.
Hal Turner, Executive Chairman and Principal Executive Officer at Pareteum commented, “This latest acquisition adds another dimension to the experiences Pareteum is able to power for our communication service providers, Smart City, and IoT customers through our Super API. Location awareness is set to become fundamental to mobility services and Devicescape is an excellent fit with our cloud software-based, infrastructure-free model for the provision of compelling connected experiences. I am delighted to welcome Dave and his staff to the TEUM.”
“I am excited that Devicescape has become part of Pareteum, not least because of our shared ambition to provide customers with everything they need to create connected services which will change the way people experience and interact with their world,” said Dave Fraser, CEO at Devicescape. “I look forward to working with Hal and the TEUM to make this vision a reality.”
“The acquisition of Devicescape will be fully accretive from day one,” said Pareteum President Denis McCarthy, who is leading the acquisition process. “It enhances our engineering capability as we continue to accelerate customers into production, and it promises to drive yet more of the innovation which keeps customers buying from us.”
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, bringing secure, ubiquitous, scalable, and seamlessly available voice, video, SMS/text messaging, and data, media and content enablement to our customers, making 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. Pareteum currently has offices in North America, South America, Spain, Bahrain, Singapore, Indonesia, Germany, Belgium, United Kingdom, Russia, and the Netherlands. For more information please visit: http://www.pareteum.com.