Xura Announces Completion of Acquisition by Affiliates of Siris Capital Group, LLC
August 19 2016 - 12:19PM
Xura, Inc. (NASDAQ:MESG), a leading provider of digital
communications services, today announced the completion of its
acquisition by affiliates of Siris Capital Group, LLC (“Siris” or
“Siris Capital”) in a transaction reflecting an equity value of
approximately $643 million.
The transaction, which was initially announced on May 23, 2016,
was approved by a majority of Xura’s shareholders on August 16,
2016. In connection with the closing of the transaction, the
company, which will continue to operate as Xura Inc., will be
wholly owned by affiliates of Siris Capital.
Siris’ investment underpins Xura’s mission to revolutionize the
way the world communicates, accelerating its development of leading
digital communications solutions for CSPs that will transform
future engagement experiences across all networks, channels and
devices. At the heart of this acquisition is a commitment to
continue building a company positioned for longevity and growth,
which is focused on customers, product development and fostering
technology innovation across messaging, data, network security and
virtualization services.
Commenting on the transaction closure, Hubert de Pesquidoux,
Siris Capital executive partner and Xura’s new executive chairman,
said: “With its broad product portfolio and industry-renowned
technology, which has underpinned mobile messaging for many years,
Xura is well-positioned to continue to bring value to the 300+
customers it supports and the broader digital ecosystem. We look
forward to working with the management team and employees to
further advance the company’s value proposition, investing and
innovating to help its customers succeed. I am honored to be part
of Xura’s next chapter.”
“This is a momentous day for Xura,” said Philippe Tartavull, CEO
at Xura. “By partnering with Siris Capital and its
experienced leadership team, we will now be able to accelerate our
strategy to bring best-in-class messaging, voicemail, security, and
monetization solutions to our customers. This investment not only
offers Xura increased financial stability, but is a fantastic
opportunity to expand our reach and bolster our position as an
industry-leading company with digital innovation and customers at
its core.”
About Xura, Inc.
Xura offers a portfolio of digital services solutions that
enable global communications across a variety of mobile devices and
platforms. We help communication service providers (CSPs) and
enterprises navigate and monetise the digital ecosystem to create
innovative, new experiences through our cloud-based offerings. Our
solutions touch more than three billion people through 350+ service
providers and enterprises in 140+ countries. You can find us
at Xura.com.
About Siris Capital Group, LLCSiris Capital is
a leading 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. Their significant involvement
allows Siris to partner with management to add value both
operationally and strategically. To learn more, visit us at
www.siriscapital.com.
Media Contact:
Maria Hudson
Xura
maria.hudson@xura.com
+44 7967813429
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