Comverse
 |
|
| Private | |
| Industry | Telecommunications software |
| Headquarters | Wakefield, Massachusetts, United States |
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Key people
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Pardeep Kohli (President and CEO) |
| Products | Mobile Operator Messaging Infrastructure - SMS, MMS (2G / 3G - SS7), RCS, Advanced Communications and Messaging as a Platform (MaaP), Security & Signaling Control, Voicemail, VAS & Low Credit Services |
|
Number of employees
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1,800 (2016) |
| Website | www.xura.com |
Xura, Inc. (NASDAQ: MESG) is a technology company headquartered in Wakefield, Massachusetts, in the United States, that offers a portfolio of digital services that enable global communications across a variety of mobile devices and platforms. Xura markets and sells to communications service providers (CSPs) and to enterprises.
As a subsidiary, Comverse, Inc. was incorporated on November 19, 1997, 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. Philippe Tartavull was named as the CEO of the independent Comverse, and continues to be President and CO of Xura, Inc.
These transactions were completed by February 4, 2013, and represented the effective liquidation of the Comverse Technology holding entity and the emergence of Comverse, Inc. as a fully independent company.
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.
During June 2015 Comverse divested its BSS business to Amdocs. In August 2015 Comverse announced it had completed the previously-announced acquisition of Acision, a privately held firm that specialized in secure mobile messaging and engagement services.
Following Comverse Inc.'s acquisition of Acision on 6 August 2015, Xura, Inc. was launched on 9 September 2015, as the new brand of the combined entity.
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. 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.
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