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Elephant Talk Communications Corp. (ETAK) Announces Expansion Plans For Utiba

|Includes: Pareteum Corporation (TEUM)

Elephant Talk Communications recently announced mobile financial service company Utiba is expanding the geographical reach of its Software as a Service (SaaS) product. With this expansion, Utiba will also bring the potential for a broader range of sale for Elephant Talk's product suite.

Elephant Talk is focused on developing and marketing business software and services to the telecommunications industry. Elephant Talk allows a diverse range of businesses, from banks and supermarkets to global telecom companies and media firms, the ability to offer their customer base telecom services. Elephant Talk provides a wide suite of product services, including remote health care, credit card fraud prevention, mobile internet ID security, multi-country discounted phone services, and
loyalty management services, among others.

Utiba is partnering with companies such as MasterCard and ValidSoft (a subsidiary of Elephant Talk) to roll out its newest product suite under the umbrella strategy of Converging Payments. ValidSoft is one of the major partnerships in this venture, and will be utilized to extend the reach of mobile wallet technology. Using ValidSoft's SMART systems, Utiba will enable users in South America and Asia Pacific to make mobile payments via smartphone, among other financial services.

Pat Carroll, CEO and founder of ValidSoft, said, "As Utiba expands its global presence, it's clear that the advanced functionality, flexibility and interoperability of the ValidSoft products are the solutions of choice for the mobile payment world and, in particular, Utiba's suite of innovations. ValidSoft's SMART solution will enable consumer confidence across all locations in which Utiba is looking to expand and will help extend the reach and acceptance of mobile wallets globally. We expect that an expansion of our relationship with Utiba will increase our higher margin security software solutions revenue throughout 2013."

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