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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. As well as from an earlier company that was called Mavenir Systems (which was the source of the name Mavenir). Mavenir Systems was acquired by Mitel Networks Corporation before becoming part of the new Mavenir. Mavenir Systems itself had grown by acquisition, and the new Mavenir has continued to acquire technology subsequently.

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]

Origins of Xura

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
File:Xura, Inc. small logo.png
The Xura logo
The renamed-to-Xura building in Ra'anana at night in 2017

The Xura part of Mavenir has its origins in Comverse Technology and Acision

On November 19, 1997, Comverse Inc. was incorporated[12] as part of the larger Comverse Technology.

Between August 2012 and February 4, 2013, a series of transactions were announced that would end Comverse Technology as a functioning entity, by making Comverse Network Systems an independent company (known simply as 'Comverse') once again, allowing Verint Systems (the former Comverse Infosys) to buy back Comverse Technology's majority stake in it, and selling off other subsidiaries.[13][14] These transactions represented the effective liquidation of the Comverse Technology holding entity[14][15] and the emergence of Comverse Inc. as a fully independent company.

At this time (March 2015) Comverse had 3,000 employees, of whom 750 were located in Israel. Its headquarters were in Wakefield, Massachusetts, US. Its products and solutions included traditional VAS (TVAS), Digital Services from the Cloud (mVas), Unified Communications (Cloud Business VoIP & UC), and the Evolved Communication Suite.

In June 2015, Comverse divested its BSS business to Amdocs. And then in August 2015 Comverse announced it had completed the previously-announced acquisition of Acision,[16] a privately-held secure mobile messaging and engagement services firm.

The newly-merged Comverse and Acision rebranded as Xura Inc. on 9 September 2015.[16][17][18][19] The name 'Xura' was adapted from the word 'Aura'.[17] Philippe Tartavull became President and CEO of Xura. The company had two core product sets: Digital Communications Services and Converged Communications (traditional and IP). The company traded under the stock symbol MESG on the NASDAQ exchange. The company had over 350 service providers and enterprises customers across 100 countries.

On May 23, 2016,[20] Xura announced it would be acquired by affiliates of Siris Capital Group for $25.00 per share in an all-cash deal. This valued the company at approximately $643 million. The transaction closed on August 19, 2016, taking Xura Inc. from a public company to a privately-owned company of affiliates of Siris Capital Group, LLC. Hubert de Pesquidoux, a Siris Capital Executive Partner, took the role as Xura’s new Executive Chairman.

The New Mavenir

Mavenir logo

[21]

On December 19, 2016, affiliates of Xura agreed to acquire Mitel Mobility, a division of Mitel Networks Corporation for $385 million, and Ranzure Networks Inc., for an undisclosed sum.[22][23] Xura also announced when the transactions were complete, the newly merged company would be rebranded as 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.[23]

The company has continued to acquire technology - most recently via its acquisitions of Aquto (2018) and Argyle Data (2018).

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. ^ [https.seekingalpha.com/article/1803122-mavenir-systems-ipo-is-not-calling-at-proposed-range "Mavenir Systems IPO Is Not Calling At Proposed Range"]. Seeking Alpha. Retrieved 4 February 2020. {{cite web}}: Check |url= value (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. ^ "Xura Buys Mitel Mobility for $385 million and Ranzure To Double Down on 5G". TechCrunchaccess. Retrieved 4 February 2020.
  8. ^ "Xura Buys Mitel Mobility for $385 million and Ranzure To Double Down on 5G". TechCrunch. Retrieved 4 February 2020.
  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. ^ a b "Comverse Completes Acquisition of Acision, Creating a Leader in Digital Communication Services" (Press release). GlobeNewswire. Retrieved 5 August 2018.
  17. ^ 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.
  18. ^ "Comverse – no, not the shoe guys – changes name to Xura". Betaboston.com. Retrieved 5 August 2018.
  19. ^ "Comverse (CNSI) Will Change Name to 'Xura, Inc.'". Streetinsider.com. Retrieved 5 August 2018.
  20. ^ "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.
  21. ^ "Mavenir - Transforming Mobile Network Economics". Mavenir.com. Retrieved 5 August 2018.
  22. ^ "Xura buys Mitel Mobility for $385m". Globes English. Retrieved 20 December 2016.
  23. ^ a b "Mitel dumps wireless business less than two years after $560-million purchase". The Globe and Mail. 19 December 2016.

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