The US Bankruptcy Court gave an order approving the sale of the substantially all the assets of Pareteum Corporation on June 30, 2022. The debtor has been authorized to sell substantially all its assets to Circles MVNE Pte. Ltd. and Channel Ventures Group LLC for a joint credit bid of $60 million and assumed liabilities.

The debtor did not receive any other competing bids for the purchase of its assets and therefore Circles MVNE Pte. Ltd. and Channel Ventures Group LLC emerged as the winning bidder.