The company is headquartered in Richardson, Texas, US, and has offices in multiple countries such as India, Pakistan, Indonesia, Romania, Germany, and the UK. Mavenir also has Centres of Excellence around the world, including in Bangalore and Brno, with a global employee headcount of over 5000. The company serves more than 250 Communications Service Providers in over 120 countries.[1]
Mavenir has a complex corporate history as a result of successive acquisitions and spin-offs. The main historical predecessors are:
Xura, which was composed of pieces of Comverse, Inc.,[2]Acision, and a number of other acquired companies. Comverse, Inc derived from Comverse Technology, was active in traditional value-added services (VAS), digital cloud services, Unified Communications (VoIP &UC), and a suite of evolved communication services. Acision was a privately held secure mobile messaging and engagement services firm.[3][4] These entities were combined in 2015 to form Xura, which focused on two core product areas: digital communications services and converged communications (traditional and IP).
An older entity with a similar name, Mavenir Systems, initially a company focused on transition from 3G to 4G with IMS products and solutions, founded in 2006. It acquired Airwide Solutions, Stoke and Ulticom and In 2013, the company went public on NYSE with MVNR ticker symbol. The company was acquired by Mitel Networks Corporation in 2015 to create Mitel Mobility.
Ranzure Networks, a startup focused on developing 5G cloud-based radio access network technology.
How it came together:
In mid-2016, Xura was acquired by affiliates of Siris Capital Group in a deal that valued the company at approximately $643 million.[5] On 19 December 2016, affiliates of Xura agreed to acquire Mitel Mobility, for $385 million, and Ranzure Networks Inc., for an undisclosed sum.[6]
When the transactions completed on February 8, 2017, the newly merged company was renamed Mavenir Systems Inc., trading under the Mavenir brand.[7]
Mavenir has continued to acquire technology - including its acquisitions of Aquto, a cloud-based sponsored data platform (2018);[8] Argyle Data (2018), a machine learning security platform; Brocade’s vEPC[9] and ip.access (2020), a specialist small cell vendor.[10]
On 6 October 2020, Mavenir announced that it had filed a registration statement for an initial public offering (IPO) of ordinary shares on Nasdaq. Due to market volatility in the run-up to the 2020 US elections the company postponed the IPO on 28 October but stated that it would keep market conditions under review in the following months.[11]
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[12]
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[13]
2011: Mavenir Systems acquired Airwide Solutions, a messaging specialist, for $40 million[14]
2013: Mavenir Systems IPO (NYSE) under ticker MVNR, raising $44.5 million[15]
2014: acquired security gateway vendor Stoke for $2.9 million plus $1.9 million of debt[16]
2015: acquired signalling vendor Ulticom for $20 million[17]
2016: rebranded by Mitel to Mitel Mobile, then sold to Xura (for $350 million)[19]
2016: Pardeep Kohli and Ashok Khuntia founded Ranzure to disrupt the Radio Access Network market through cloud-based virtualisation. Ranzure raises $13 million in Series A funding.[20]
Mavenir’s President and Chief Executive Officer is Pardeep Kohli who has been associated with several of the ventures that make up the company today.[27] He has been in his current post since December 2016 and was previously CEO of Xura, which he joined after it acquired Ranzure, a company that Kohli had founded earlier that year. Before Ranzure, Kohli had been President and CEO of Mavenir Systems, Inc,[28] guiding it through its IPO in November 2013, and subsequent acquisition by Mitel Networks Corporation in 2015.[citation needed]
Prior to Mavenir Systems, Pardeep was Co-Founder, President and CEO of Spatial Wireless, which was acquired by Alcatel in 2004.[citation needed]
