Xura to change company name to Mavenir Systems upon completion of Mitel Mobile acquisition
08 February 2017 - 6:01PM
Mavenir brand to be showcased at Mobile World
Congress 2017
Following the announcement in December 2016 that affiliates of Xura
entered into definitive agreements to acquire Mitel Mobility, Inc.
(“Mitel Mobile”), a division of Mitel Networks Corporation
(“Mitel”) (Nasdaq:MITL) (TSX:MNW), and Ranzure Networks, Inc.
(“Ranzure”), today Xura announces that upon completion of the
transactions the new combined company name will be Mavenir Systems,
Inc. (“Mavenir Systems” or “Mavenir”). Affiliates of Xura
completed the previously announced acquisition of Ranzure Networks
on February 1, 2017. The acquisition of Mitel Mobile by affiliates
of Xura remains subject to customary closing conditions and is
expected to close in the first quarter of 2017.
Xura’s CEO, Pardeep Kohli, formerly CEO of Mitel
Mobile’s predecessor (also named Mavenir Systems) and Co-Founder
and CEO of Ranzure Networks, will lead the new company under the
reactivated Mavenir name.
Mavenir Systems, which was acquired by Mitel in
2015 and rebranded to Mitel Mobile, established its industry
leadership in 4G LTE mobile solutions that helped define the market
with a series of industry firsts, including the world’s first live
network deployments of Voice over LTE (“VoLTE”) and RCS5 with
MetroPCS (now T-Mobile), and the first mobile network deployment of
IMS-based Voice over WiFi (“VoWi-Fi”) with T-Mobile US.
The new Mavenir, to be formed by the combination
of Xura, Mitel Mobile and Ranzure, will establish a leading player
in fully-virtualized, 5G ready software solutions across every
layer of the network infrastructure stack, helping Communications
Service Providers (“CSPs”) drive revenues, efficiencies,
flexibility and scalability as they adopt the cloud and virtualize
their networks. The new solution set will enable customers to
drive service innovation, deliver optimization and handle
exponential traffic growth from Internet of Things (“IoT”) and 5G
applications.
Xura’s CEO, Pardeep Kohli,
commented: “Mavenir’s strong global brand reputation and
proven track record of market-leading innovation across its product
set made the name a natural choice for us. Mavenir has led multiple
industry-first innovations, including the first at-scale
deployments of virtualization and software defined networking to
mobile core networks. Moving ahead, we will build on this success,
offering evolved, cloud-proven networking solutions, from radio
access and packet core to 5G applications and services. We will
drive innovation and new experiences for our customers and their
end users. In anticipation of the completion of the acquisition and
the Mavenir Systems brand re-launch, Mitel Mobile will attend
Mobile World Congress 2017 as Mavenir.”
About Xura
Xura, Inc. offers a portfolio of digital
services solutions that enable global communications across a
variety of mobile devices and platforms. We help communication
service providers (CSPs) and enterprises navigate and monetise the
digital ecosystem to create innovative, new experiences through our
cloud-based offerings. Our solutions touch more than three billion
people through 350+ service providers and enterprises in 140+
countries. You can find us at www.xura.com.
About Ranzure Networks
Founded by industry veterans with extensive
experience in virtualized LTE core networks and Radio Access
technologies – Ranzure is focused on paving the way for seamless
superfast 5G networks. Ranzure Networks has licensed Mitel Mobile
technology in the area of Evolved Packet Core to support service
providers as they build 5G networks for the Internet of Things.
Ranzure is based in Richardson, Texas, with additional development
centers in Ottawa, Canada and Bengaluru, India. Visit
www.ranzure.com for more information.
About Siris Capital
Siris Capital is a leading private equity firm
focused on making control investments in data, telecommunications,
technology and technology-enabled business service companies.
Integral to Siris' investment approach is its partnership with
exceptional senior operating executives, or Executive Partners, who
work with Siris to identify, validate and operate investment
opportunities. Their significant involvement allows Siris to
partner with management to add value both operationally and
strategically. To learn more, visit us at www.siriscapital.com.
Xura Media Contact:
Maria Hudson
SVP, Head of Corporate Marketing
maria.hudson@xura.com
M: +44 (0) 7894604040
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