Jump to content

Mavenir

Add links
From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by 84.68.75.9 (talk) at 17:46, 4 February 2020 (→‎Company timeline). The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Mavenir
Company typePrivate
IndustryTelecommunications software
Founded2017
(main predecessor companies 1997, 2005, and 2007)
Foundermerger led by Siris Capital Group, LLC
HeadquartersRichardson, Texas, U.S.
Key people
Pardeep Kohli (President and CEO)
Products
  • Mobile Operator Messaging Infrastructure - SMS, MMS (2G / 3G - SS7)
  • RCS
  • Advanced Communications and Messaging as a Platform (MaaP)
  • Security & Signaling Control
  • Voicemail
  • VAS & Low Credit Services
Number of employees
2500 (2017)
Websitemavenir.com

Mavenir is a cloud-native software company to the communications service provider (CSP) market, headquartered in Richardson, Texas, US. The company has a complex corporate history as a result of repeated acquisition and spin off, but in its current incarnation has a USD500 million turnover (2018)[1], 3,300 employees and over 250 telecoms service provider customers.

History

Mavenir has a complex corporate history. It comprises pieces of Comverse, Inc. (which derived from the well-known Comverse Technology) and Acision, which was known as Xura between 2015 and 2017. Another part of the company derives from a start-up called Ranzure. And another from an earlier company that was called Mavenir Systems (which was the source of the name Mavenir), which went into and out of Mitel Networks Corporation before becoming part of the new Mavenir.

Company timeline

  • 2005: Mavenir Systems founded
  • 2008: Mavenir Systems completes round of funding for $17.5 million
  • 2010: Mavenir Systems completes a round of funding round for $13.5 million backed by Alloy Ventures, Austin Ventures and North Bridge Venture Partners
  • 2011: Mavenir Systems completes round of funding for $40 million backed by August Capital and including existing investors Alloy Ventures, Austin Ventures, North Bridge Venture Partners and Greenspring Associates
  • 2011: Mavenir Systems acquired Airwide Solutions, a messaging specialist for $40 million[2]
  • 2013: Mavenir Systems IPO (NYSE) under ticker MVNR, raising $44.5 million[3]
  • 2014: acquired security gateway vendor Stoke for $2.9 million plus $1.9 million of debt[4]
  • 2015: acquired signalling vendor Ulticom for $20 million[5]
  • 2015: acquired by Mitel for $560 million[6]
  • 2016: rebranded by Mitel to Mitel Mobile, then sold to Xura (for $350 million)[7]
  • 2016: Xura acquired Ranzure[8]
  • 2016: Ranzure 5G Radio founded
  • 2017: Siris merges Xura, Ranzure and Mitel Mobile and rebrands as Mavenir[9]
  • 2018: acquired Aquto[10]
  • 2018: acquired Argyle Data[11]

Part of Comverse Technology

Main article: Comverse Technology

As a subsidiary, Comverse, Inc. was incorporated on November 19, 1997,[12] as part of the larger Comverse Technology.

In August 2012, a series of transactions were announced that would end Comverse Technology as a functioning entity, by making Comverse Network Systems an independent company once again known simply as Comverse, allowing Verint Systems (the former Comverse Infosys) to buy back Comverse Technology's majority stake in it, and selling off other subsidiaries.[13][14] Philippe Tartavull was named as the CEO of the independent Comverse, and continues to be President and CO of Xura, Inc.

These transactions were completed by February 4, 2013, and represented the effective liquidation of the Comverse Technology holding entity[14][15] and the emergence of Comverse, Inc. as a fully independent company.

Comverse

Comverse building in Wakefield, Massachusetts in the U.S. in 2015
The new-at-the-time Comverse building in Ra'anana in Israel in 2015

Results for fiscal year 2011, which took place as the spin-off of Comverse from Comverse Technology was happening, demonstrated a return to profitability, with a net income of $5.1 million.[16] Its stock symbol was CNSI and it was traded on the NASDAQ exchange.

In March 2015 Comverse had 3,000 employees, of whom 750 were located in Israel. Company headquarters was in Wakefield, Massachusetts in the United States.

Comverse's products and solutions included Traditional VAS (TVAS) - Digital Services from the Cloud (mVas), Unified Communications - Cloud Business VoIP & UC, and the Evolved Communication Suite.

During June 2015 Comverse divested its BSS business to Amdocs. In August 2015 Comverse announced it had completed the previously-announced acquisition of Acision,[17] a privately held firm that specialized in secure mobile messaging and engagement services.

Xura

The Xura logo
The renamed-to-Xura building in Ra'anana at night in 2017

Following Comverse Inc.'s acquisition of Acision on 6 August 2015, Xura, Inc. was launched on 9 September 2015, as the new brand of the combined entity.[17][18][19][20] The name 'Xura' was adapted from the word 'Aura'.[18]

Philippe Tartavull continued as President and CEO of Xura. The company's core products focus was in Digital Communications Services and Converged Communications (traditional and IP). The Xura stock symbol was MESG and it was listed on the NASDAQ exchange.

The goal of Xura was to assist customers to navigate and monetize the digital ecosystem through cloud-based offerings. Its solutions found use in over 350 service providers and enterprises across over 100 countries.

On May 23, 2016,[21] Xura announced an agreement to be acquired by affiliates of Siris Capital Group for $25.00 per share in an all-cash deal valued at approximately $643 million. This transaction was closed on August 19, 2016, when the acquisition completed taking Xura, Inc. from public to privately backed by affiliates of Siris Capital Group, LLC.

The transaction saw Hubert de Pesquidoux, a Siris Capital Executive Partner, take the role as Xura’s new Executive Chairman.

The New Mavenir

Mavenir logo

[22]

On December 19, 2016, affiliates of Xura entered into agreements to acquire Mitel Mobility, a division of Mitel Networks Corporation for $385 million, and Ranzure Networks, Inc., an early-stage venture focused on developing 5G cloud-based radio access network technology, for an undisclosed sum.[23][24] Xura also announced that upon completion of the transactions the new combined company name would be Mavenir Systems, Inc., often just known as Mavenir.

Part of the motivation for this series of corporate moves was that the acquisition of original Mavenir had not gone well for Mitel.[24]

References

  1. ^ "Mavenir's Billion-Dollar Blueprint". Light Reading. Retrieved 4 February 2020.
  2. ^ "Mavenir Systems announces Airwide acquisition". Telecoms.com. Retrieved 4 February 2020.
  3. ^ "Mavenir Systems IPO Is Not Calling At Proposed Range". Seeking Alpha. Retrieved February 4,2020. {{cite web}}: Check date values in: |accessdate= (help)
  4. ^ "Mavenir Buys Security Gateways With Stoke Purchase". Rethink Research. Retrieved 4 February 2020.
  5. ^ "Mavenir To Bolster Telecom Diameter Signalling Platform With Ulticom Purchase". RCR Wireless. Retrieved 4 February 2020.
  6. ^ "Canada's Mitel Networks to buy Mavenir Systems for $560 mln" (Press release). 2 March 2015. Retrieved 4 February 2020.
  7. ^ Template:Chttps://techcrunch.com/2016/12/19/xura-buys-mitel-mobility-for-385m-and-ranzure-to-double-down-on-5g/
  8. ^ Template:Chttps://techcrunch.com/2016/12/19/xura-buys-mitel-mobility-for-385m-and-ranzure-to-double-down-on-5g/
  9. ^ "Xura Appeals To Nostalgia With Mavenir Rebrand". Telecoms.com. Retrieved 4 February 2020.
  10. ^ . Telecom Paper https://www.telecompaper.com/news/mavenir-acquires-aquto--1226537. Retrieved 4 February 2020. {{cite web}}: Missing or empty |title= (help)
  11. ^ "Mavenir Enhances Machine Learning Security Suite Acquiring Argyle Data". RCR Wireless. Retrieved 4 February 2020.
  12. ^ "Company Profile for Comverse Inc". Reuters. Retrieved 30 January 2014.
  13. ^ "Verint to buy Comverse Technology". Reuters. 13 August 2012.
  14. ^ a b Ron Steinblatt (7 February 2013). "Verint completes separation from Comverse". Globes.
  15. ^ "Comverse Technology, Inc. – Investor Relations". Comverse Technology. Retrieved 29 January 2014.
  16. ^ "CNSI Income Statement". Yahoo! Finance. Retrieved 31 December 2013.
  17. ^ a b "Comverse Completes Acquisition of Acision, Creating a Leader in Digital Communication Services" (Press release). GlobeNewswire. Retrieved 5 August 2018.
  18. ^ a b "Introducing Xura: Comverse and Acision Launch New Global Company; Fresh Brand Reflects Digital Communications Leadership" (Press release). PR Newswire. Retrieved 5 August 2018.
  19. ^ "Comverse – no, not the shoe guys – changes name to Xura". Betaboston.com. Retrieved 5 August 2018.
  20. ^ "Comverse (CNSI) Will Change Name to 'Xura, Inc.'". Streetinsider.com. Retrieved 5 August 2018.
  21. ^ "Xura Announces Agreement to be Acquired by Affiliates of Siris Capital Group for $25.00 per share in an All-Cash Deal Valued at Approximately $643 million". Yahoo Finance. Retrieved 24 May 2016.
  22. ^ "Mavenir - Transforming Mobile Network Economics". Mavenir.com. Retrieved 5 August 2018.
  23. ^ "Xura buys Mitel Mobility for $385m". Globes English. Retrieved 20 December 2016.
  24. ^ a b "Mitel dumps wireless business less than two years after $560-million purchase". The Globe and Mail. 19 December 2016.

Retrieved from "https://en.wikipedia.org/w/index.php?title=Mavenir&oldid=939148810"