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MVNR $17.5

MVNR target price
17.50
0
0
Mavenir
Type
Public
Traded as NYSE: MVNR
Industry Communication Software
Fate Acquired by Mitel (2015)
Founded Richardson, Texas (2005)
Founder Rashad Ali
Key people
Pardeep Kohli (president and CEO
Revenue $108 million
Number of employees
986
Website mavenir.com

Mavenir Systems ( NYSE:MVNR ) was a software-based telecommunications networking provider based in Richardson, Texas. The company's software was aimed to deliver internet protocol (IP)-based voice, video, rich communications and enhanced messaging services to clients. Mavenir Systems provided service to approximately 120 mobile networks globally.

Rashad Ali founded the company in 2005. Pardeep Kohli served as the company's president and CEO.

In March 2015, Mitel announced to buy Mavenir Systems for $560 million. Thus the first incarnation of Mavenir came to an end.

Two years later, as the result of the merger of established company Xura with the Mavenir Systems part of Mitel and the startup Ranzure, a new company named Mavenir was formed.

Mavenir Systems was founded in 2005. In December 2008, the company completed a funding round for $17.5 million. Another funding round for $13.5 million backed by Alloy Ventures, Austin Ventures and North Bridge Venture Partners was completed in June 2010. The company raised $40 million in a funding round backed by previous investors and Cross Creek Capital. The funding round brought the company's total funding to $105 million. Mavenir Systems placed first on the Metroplex Technology Business Council's Fast Tech list in 2010 with a 479.6 percent growth. Mavenir Systems placed second on the Fast Tech list the following year.

Mavenir Systems provided VoLTE service to MetroPCS in 2012. The company partnered with Radisys in February 2013 on VoLTE deployments in Europe and the United States. 4G Americas, a wireless industry trade association, elected Mavenir Systems to its Board of Governors in April 2013. The company opened a user experience center in Zagreb, Croatia in April 2013. The center intended to demonstrate and bring new offerings for VoWi-Fi, VoLTE and rich communication services (RCS) to the market.

In November 2013, Mavenir Systems became a publicly traded company on the New York Stock Exchange. The company priced its shares at $10 and raised approximately $44.5 million in the initial public offering. Mavenir Systems provided T-Hrvatski Telekom, Croatia's largest telecommunications company with its IMS WebRTC gateway in February 2014. The gateway furthered T-Hrvatski Telekom's Terastream project, a simplified service delivery model. In May, Mavenir Systems released a mobile voice and messaging client software for handsets and tablets. The software was aimed to allow mobile operators to differentiate their Voice over LTE (VoLTE), Voice over WiFi (VoWiFi) and Rich Communication Services (RCS).

The company began developing a VoWiFi mobile app for 3UK on HockeyApp, a service to develop and test mobile apps, in June 2014. The mobile app is intended to provide 3UK subscribers with the ability to make calls and send text messages when out of cellular coverage (VoWiFi). In July 2014, T-Mobile launched its VoLTE service with an IP Multimedia Subsystem (IMS) voice solution developed by Mavenir Systems. T-Mobile was the first major provider to launch VoLTE according to Converge Network Digest.

In May 2011, Mavenir Systems acquired Airwide Solutions, a Massachusetts-based mobile messaging and wireless internet infrastructure company. In November 2014, Mavenir Systems acquired Stoke, a mobile and security gateway company.

On January 13, 2015, Mavenir Systems acquired Ulticom Inc, a signaling solutions software provider, for $20 million.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS

Ratings

2015-04-10 Downgrade Wunderlich Hold to Sell $17.00
2015-03-04 Downgrade Imperial Capital Outperform to In-Line
2015-03-04 Downgrade Needham & Company LLC Buy to Hold
2015-03-03 Reiterated Rating Wunderlich Hold $18.00 to $17.00
2015-03-03 Downgrade Deutsche Bank Buy to Hold $18.00
2015-03-03 Downgrade Deutsche Bank AG Buy to Hold $18.00
2015-03-02 Downgrade Stifel Nicolaus Buy to Hold $17.00
2015-03-02 Boost Price Target Needham & Company LLC Buy $16.00 to $17.00
2015-02-27 Downgrade Morgan Stanley Hold $16.00
2015-02-27 Boost Price Target Imperial Capital Outperform to Outperform $15.00 to $18.00
2015-02-27 Boost Price Target Pacific Crest Outperform $18.00 to $21.00
2015-02-27 Boost Price Target Deutsche Bank Buy to Hold $16.00 to $18.00
2014-12-29 Initiated Coverage Wunderlich Buy $18.00
2014-09-09 Initiated Coverage Morgan Stanley Outperform $18.00
2014-09-09 Initiated Coverage Pacific Crest Outperform $18.00
2014-09-05 Reiterated Rating Morgan Stanley Overweight $20.00 to $14.00
2014-08-28 Initiated Coverage Imperial Capital Outperform $15.00
2014-08-18 Initiated Coverage Bank of America Buy $19.00
2014-08-18 Initiated Coverage Bank of America Corp. Buy $19.00
2014-08-11 Initiated Coverage Stifel Nicolaus Buy $15.00
2014-08-11 Initiated Coverage Cowen and Company Outperform $21.00
2014-05-09 Lower Price Target Deutsche Bank $20.00 to $18.00
2014-03-20 Boost Price Target Deutsche Bank Buy $15.00 to $20.00
2014-02-21 Boost Price Target Needham & Company LLC $14.00 to $16.00
2013-12-05 Initiated Coverage Deutsche Bank Buy $14.00
2013-12-02 Initiated Needham Buy $14
2013-12-02 Initiated Coverage Needham & Company LLC Buy $14.00
2013-12-02 Initiated Coverage Morgan Stanley Overweight $13.00
2013-12-02 Initiated Coverage Bank of America Buy $13.00
2015-04-10 Downgrade Wunderlich Hold to Sell $17.00
2015-03-04 Downgrade Imperial Capital Outperform to In-Line
2015-03-04 Downgrade Needham & Company LLC Buy to Hold
2015-03-03 Reiterated Rating Wunderlich Hold $18.00 to $17.00
2015-03-03 Downgrade Deutsche Bank Buy to Hold $18.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Funds

In MVNR 0 funds of 2213 total. Show all

Fund name Ticker shares

Major Shareholders

Name Relationship Total Shares Holding stocks
Cisco Systems International B.V. 4.60%  (1135945) CSCO / MVNR /
CROSS CREEK CAPITAL LP 1.61%  (398565) MVNR /
Greenspring Crossover Ventures I, L.P. 0.79%  (195623) MVNR /
Garrett Sam General Counsel and Secretary 0.04%  (10000) MVNR /