Mavenir has a complex corporate history. It comprises pieces of Comverse, Inc. and Acision, the combination of which was known as Xura between 2015 and 2017. As well as an earlier company that was called Mavenir Systems. This company was acquired by Mitel Networks Corporation before becoming part of the new Mavenir. Mavenir Systems had grown through 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
2013: Mavenir Systems IPO under ticker MVNR, raising $44.5 million
2014: acquired security gateway vendor Stoke for $2.9 million plus $1.9 million of debt
2015: acquired signalling vendor Ulticom for $20 million
2015: acquired by Mitel for $560 million
2016: rebranded by Mitel to Mitel Mobile, then sold to Xura
2017: Siris merges Xura, Ranzure and Mitel Mobile and rebrands as Mavenir
2017: Brocade vEPCc acquisition
2018: acquired Aquto
2018: acquired Argyle Data
Origins of Xura
On November 19, 1997, Comverse Inc. was incorporated 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 once again, allowing Verint Systems to buy back Comverse Technology's majority stake in it, and selling off other subsidiaries. These transactions represented the effective liquidation of the Comverse Technology holding entity and the emergence of Comverse Inc. as a fully independent company. At this time 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, Digital Services from the Cloud, Unified Communications, 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, a privately-held secure mobile messaging and engagement services firm. The newly-merged Comverse and Acision rebranded as Xura Inc. on 9 September 2015. The name 'Xura' was adapted from the word 'Aura'. Philippe Tartavull became President and CEO of Xura. The company had two core product sets: Digital Communications Services and Converged Communications. 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, 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, became Xura’s new Executive Chairman.
The New Mavenir
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. 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 the original Mavenir Systems had not gone well for Mitel. The company has continued to acquire technology - most recently via its acquisitions of Aquto and Argyle Data.
