Xura

Last updated
Xura, Inc.
TypePublic (Nasdaq: MESG)
Industry Telecommunications software
Founded
  • 1997 (subsidiary)
  • 2013 (independent company)
Fate
  • Acquired by Siris Capital Group (2016)
  • Merged into Mavenir (2017)
Headquarters Wakefield, Massachusetts, United States
Key people
Philippe Tartavull (President and CEO)
ProductsDigital Communications Services, Converged Communications (traditional and IP)
RevenueSteady2.svg US $678 million (FY 2012)
Increase2.svg US $5.1 million (FY 2012)
Number of employees
3,000 (2015)
Website www.xura.com

Xura, Inc. (NASDAQ: MESG), previously known as Comverse, Inc., was a technology company headquartered in Wakefield, Massachusetts, United States, in existence from 2013 to 2017, that offered a portfolio of digital services which enabled global communications across a variety of mobile devices and platforms. Xura marketed and sold to communications service providers (CSPs) and to enterprises.

Contents

History

Subsidiary of Comverse Technology

Comverse building in Wakefield, Massachusetts in the U.S. in 2015 Comverse Wakefield Building.jpg
Comverse building in Wakefield, Massachusetts in the U.S. in 2015

For many years, Comverse, also known as Comverse Network Systems, was part of the more widely known Comverse Technology, which had several wholly or partly owned subsidiaries. The name "Comverse" is a portmanteau of the words "communication" and "versatility". As a U.S. subsidiary, Comverse was incorporated on November 19, 1997, [1] 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. [2] [3] Philippe Tartavull was named as the CEO of the independent Comverse.

These transactions were completed by February 4, 2013, and represented the effective liquidation of the Comverse Technology holding entity [3] [4] and the emergence of Comverse, Inc. as a fully independent company.

Comverse, Inc.

The new Comverse building in Ra'anana, Israel in 2015 Comverse building in Raanana, Israel.jpg
The new Comverse building in Ra'anana, Israel in 2015

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. [5]

In March 2015 Comverse had 3,000 employees, of whom 750 were located in Israel. Company headquarters were located in Wakefield, Massachusetts in the United States.

The company focuses on providing Business Support Systems (BSS), data policy (PCEF, PCRF), traditional and IP-based value-added services to telecommunication and other service providers, complemented by professional and managed services. 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 [6] of Acision, a privately held firm that specialized in secure mobile messaging and engagement services.

Xura

The renamed-to-Xura building in Ra'anana at night in 2017 Xura-bldg-raanana-at-night-RJP-002.jpg
The renamed-to-Xura building in Ra'anana at night in 2017

Following Comverse Inc.'s acquisition of Acision on 6 August 2015, a company name change was made. [7] Xura, Inc. was launched on 9 September 2015, as the new brand of the combined entity. [8] [9] [10] [7] The name 'Xura' was adapted from the word 'Aura'. [9] [10] Xura would also be renaming all Comverse and Acision subsidiaries.

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. [11] 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.

Merger to Mavenir

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. [12] [13] On February 8, 2017, this deal completed, and Xura was subsumed into a new entity known as Mavenir. [14]

Products and services

Xura's products and solutions belonged to three categories:

Industry recognition

During the years of its existence, Xura (and Comverse, Inc.) won a number of awards within its industry, including:

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References

  1. ↑ "Company Profile for Comverse Inc". Reuters. Archived from the original on February 2, 2014. Retrieved January 30, 2014.
  2. ↑ "Verint to buy Comverse Technology". Reuters . 13 August 2012.
  3. 1 2 Ron Steinblatt (7 February 2013). "Verint completes separation from Comverse". Globes .
  4. ↑ "Comverse Technology, Inc. – Investor Relations". Comverse Technology. Retrieved 29 January 2014.
  5. ↑ "CNSI Income Statement". Yahoo! Finance . Retrieved 31 December 2013.
  6. ↑ "Comverse Completes Acquisition of Acision, Creating a Leader in Digital Communication Services". Comverse Inc. Retrieved 6 August 2015.
  7. 1 2 "Comverse (CNSI) Will Change Name to 'Xura, Inc.'".
  8. ↑ "Comverse Completes Acquisition of Acision, Creating a Leader in Digital Communication Services" (Press release). 6 August 2015.
  9. 1 2 "Introducing Xura: Comverse and Acision Launch New Global Company; Fresh Brand Reflects Digital Communications Leadership" (Press release).
  10. 1 2 "Comverse – no, not the shoe guys – changes name to Xura".
  11. ↑ "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 2016-05-24.
  12. ↑ "Xura buys Mitel Mobility for $385m". Globes. Globes English. 20 December 2016. Retrieved 20 December 2016.
  13. ↑ "Mitel dumps wireless business less than two years after $560-million purchase". The Globe and Mail . 19 December 2016.
  14. ↑ "Xura to change company name to Mavenir Systems upon completion of Mitel Mobile acquisition" (Press release). GlobeNewswire. February 8, 2017.
  15. ↑ "Forge by Acision | Global, carrier-grade messaging connectivity and APIs for Video, Voice, SMS, and more". forge.acision.com. Archived from the original on 2014-07-01.
  16. ↑ "Mavenir | Trust the Future".
  17. ↑ "Mavenir | Trust the Future".
  18. 1 2 "Mavenir | Trust the Future".
  19. ↑ "Gartner Research Positions Comverse as a Leader in the Magic Quadrant for Integrated Revenue and Customer Management for CSPS – Again". Archived from the original on 2014-01-01. Retrieved 2021-01-23.
  20. ↑ "Comverse Wins Industry Award for Policy Extended with Analytics". www.comverse.com. Archived from the original on 2014-01-01.
  21. ↑ "Comverse Wins Mobile Broadband & BSS Awards at Global Broadband Management Congress 2012". www.comverse.com. Archived from the original on 2014-01-01.
  22. ↑ "Comverse ONE Solution Wins Global Billing Product Line Strategy Award for Excellence". www.comverse.com. Archived from the original on 2012-02-18.
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