Mobile networking software and services company Pareteum has signed a three-year contract to provide its managed service platform (MSP) to an IoT and MVNO provider in the Indian subcontinent, the company said in a statement. The contract is worth $10 million.

Under the terms of the agreement, Pareteum will be paid on a monthly recurring revenue basis for platform support services based on the number of connections. Additional fees will be paid to Pareteum for other solutions, as activated, including blockchain enablement.

[Image courtesy: Pareteum]