Friday, February 10, 2017

XURA TO CHANGE COMPANY NAME TO MAVENIR SYSTEMS UPON COMPLETION OF MITEL MOBILE ACQUISITION

Mavenir brand to be showcased at Mobile World Congress 2017

WAKEFIELD, Mass., Feb 8 (Bernama-GLOBE NEWSWIRE) -- 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.
http://mrem.bernama.com/viewsm.php?idm=28407

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