|Founder||merger led by Siris Capital Group, LLC|
|Headquarters||Richardson, Texas, U.S.|
|Pardeep Kohli (President and CEO)|
Number of employees
Mavenir is a technology company headquartered in Richardson, Texas, in the United States, that offers a portfolio of digital services that enable global communications across a variety of mobile devices and platforms. It markets and sells to communications service providers (CSPs) and to enterprises. By their own description they work in the realm of "network transformation for service providers by offering a comprehensive product portfolio across every layer of the network infrastructure stack".
Mavenir has a complicated corporate history. One part of it consists of pieces of Comverse, Inc. (which derived from the well-known Comverse Technology) and Acision; this combination formed an entity called Xura between 2015 and 2017. Another part of it comes from a start-up company called Ranzure. And another part comes from an earlier company called Mavenir Systems, which went into and out of Mitel Networks Corporation before becoming part of, and serving as the revived name for, Mavenir.
As a subsidiary, Comverse, Inc. was incorporated on November 19, 1997, 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. 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 and the emergence of Comverse, Inc. as a fully independent company.
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. 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, a privately held firm that specialized in secure mobile messaging and engagement services.
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. The name 'Xura' was adapted from the word 'Aura'.
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, 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.
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. 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.
Mavenir products and solutions fall into two categories:
Over the years, the Comverse technologies within Comverse and Xura and onward have won a number of awards within its industry, including:
|Period||Date||Adjusted Actuals EPS||GAAP EPS|
|Q3 2015||2015-12-11||Future report Set alerts|
|Q2 2015||2015-09-08||Future report Set alerts|
|Name Relationship||Total Shares||Holding stocks|
|SABOL THOMAS B SVP and CFO||0.23% (51418)||CNSI /|
|GOLAN ODED SVP, COO||0.16% (35653)||CNSI /|
|Tavakoli Nassrin SVP, CTO and R&D||0.12% (26904)||CNSI /|
|Nayak Narasimha SVP, Systems and Solutions||0.11% (25144)||CNSI /|
|Rathje Shawn C. CAO||0.10% (22216)||CNSI /|
|Drapkin Matthew A||0.05% (11679)||CNSI / GLUU / IVAC / PRGX / RT / UPIP /|
|Montefiore Neil||0.03% (6033)||CNSI /|
|Andrews Stephen||0.01% (3288)||CNSI /|