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News : Xura Announces Completion of Acquisition by Affiliates of Siris Capital Group, LLC
Wakefield, MA, USA, Aug 19, 2016 -- Xura, Inc. (NASDAQ: MESG), a provider of digital communications services, announced the completion of its acquisition by affiliates of Siris Capital Group, LLC ("Siris" or "Siris Capital").
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 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."
Posted by Veronica Silva Cusi, news correspondent
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Xura, Inc (NASDAQ: MESG) 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 monetize the digital ecosystem to create innovative, new experiences through our cloud-based offerings. Our solutions touch more than three billion end points through 350+ service providers and enterprises in 140+ countries.
Published: Tuesday, August 23, 2016