Affiliates of Siris Capital create tnew Mavenir Systems

Affiliates of Siris Capital Group, LLC and Xura, Inc. have acquired Mitel Mobility, Inc., a division of Mitel Networks Corporation (Nasdaq: MITL)(TSX: MNW), the company said.

This announcement follows the completion of Xura´s acquisition of Ranzure Networks, Inc. on February 1, 2017, and the previously announced divestiture of Xura´s non-core enterprise messaging business on February 17, 2017.

The transactions position the new Mavenir as a 100% carrier-focused solutions provider with a “future proof” and 5G ready software-based portfolio across every layer of the mobile network infrastructure stack. Mavenir will be headquartered in Richardson, Texas and led by Xura´s CEO, Pardeep Kohli.

The new Mavenir positions itself as an industry leader in cloud-proven, NFV, SDN, and 5G ready software-based solutions across every layer of the network infrastructure stack, helping CSPs drive revenues and operating efficiencies by enabling increased network optimization, flexibility and scalability.

Siris Capital is a 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.