Xura Announces Completion of Acquisition by Affiliates of Siris Capital Group, LLC
August 19 2016 - 12:55PM
- Xura shareholders to
receive $25.00 per share in cash
- Acquisition supports Xura's
transformation growth strategy to be the leader in digital
communications solutions for Communication Service Providers
("CSPs")
- Enables further investment,
expansion and development of digital communication and monetization
services
WAKEFIELD, Mass., Aug. 19, 2016 (GLOBE NEWSWIRE)
-- 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,
LLC
Siris 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 atwww.siriscapital.com.
Media Contact:
Maria Hudson
Xura
maria.hudson@xura.com
+44 7967813429
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Xura, Inc. via Globenewswire
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