Mavenir Systems

Mavenir Systems was an American telecommunications software company headquartered in Richardson, Texas. Founded in 2005 by Rashad Ali, the company developed software for mobile operators seeking to move voice, video, messaging, and communications services onto Internet Protocol-based network architectures. Its portfolio centered on mobile communications infrastructure rather than consumer electronics: IP Multimedia Subsystem software, Voice over LTE, Voice over Wi-Fi, rich communications services, messaging infrastructure, signaling, mobile gateways, and related service-enablement technologies. The company grew through venture financing, acquisitions, operator deployments, and partnerships. It raised $17.5 million in December 2008, followed by a $13.5 million round in June 2010 backed by Alloy Ventures, Austin Ventures, and North Bridge Venture Partners. A later $40 million financing round, supported by existing investors and Cross Creek Capital, brought reported cumulative funding to $105 million. Its rapid expansion earned first place on the Metroplex Technology Business Council's Fast Tech list in 2010 and second place the following year. Mavenir expanded its capabilities through acquisitions. In May 2011 it acquired Airwide Solutions, a Massachusetts-based provider of mobile messaging and wireless-infrastructure software. In November 2014 it acquired Stoke, a company focused on mobile and security gateway technology. In January 2015 it acquired Ulticom for $20 million, adding signaling software to its portfolio. These transactions broadened Mavenir Systems from a specialist in mobile communications applications and IMS-related services into a more extensive network-software supplier. Its commercial activity was closely associated with the transition from legacy circuit-switched mobile voice to all-IP communications. In 2012, Mavenir supplied VoLTE technology to MetroPCS. It subsequently partnered with Radisys on VoLTE deployments in Europe and the United States, and in 2014 supplied the IMS WebRTC gateway used by T-Hrvatski Telekom in connection with its Terastream initiative. T-Mobile launched a VoLTE service in July 2014 using an IMS voice solution developed by Mavenir Systems. The company also worked on a VoWi-Fi application for 3UK and released a mobile voice-and-messaging client intended to support operator-branded VoLTE, VoWi-Fi, and RCS experiences. Mavenir Systems became publicly traded on the New York Stock Exchange in November 2013. Its initial public offering was priced at $10 per share and raised approximately $44.5 million. The public-company period was short-lived. In March 2015, Mitel announced an agreement to acquire Mavenir Systems for $560 million, and the transaction became effective in April 2015. Mavenir Systems consequently ceased to exist as an independent company. The Mavenir name later reappeared in a new corporate structure formed through the combination of Xura, the Mavenir Systems business acquired by Mitel, and startup Ranzure; that later company is distinct from the original Mavenir Systems entity covered here.

Mavenir Systems was established in 2005 in Richardson, Texas, by Rashad Ali. Under president and chief executive Pardeep Kohli, it developed software for mobile-network operators at a time when the telecommunications industry was moving from circuit-switched voice toward IP-based communications. The company's focus was on enabling operators to deliver voice, video, messaging, and richer communications services through software-defined network components and IMS architectures. The business financed its expansion through several venture rounds. It completed a $17.5 million financing in December 2008 and raised another $13.5 million in June 2010 from Alloy Ventures, Austin Ventures, and North Bridge Venture Partners. A subsequent $40 million round backed by earlier investors and Cross Creek Capital brought reported total funding to $105 million. Its growth was recognized by the Metroplex Technology Business Council, which ranked Mavenir first on its Fast Tech list in 2010 and second in 2011. Mavenir used acquisitions to broaden beyond its initial communications-software base. In May 2011 it bought Airwide Solutions, a Massachusetts company active in mobile messaging and wireless Internet infrastructure. The transaction strengthened Mavenir's messaging and service-enablement capabilities. The company also pursued industry partnerships. In February 2013 it worked with Radisys on VoLTE deployments in Europe and the United States, and in April of that year it was elected to the Board of Governors of 4G Americas. Mavenir opened a user experience center in Zagreb, Croatia, in April 2013 to demonstrate emerging VoWi-Fi, VoLTE, and RCS products to operators and partners. The company entered the public markets in November 2013 through an initial public offering on the New York Stock Exchange. Shares were priced at $10, and the offering raised approximately $44.5 million. Its commercial activity during this period reflected the industry's early adoption of all-IP mobile voice. Mavenir provided VoLTE service technology to MetroPCS in 2012. In February 2014 it supplied an IMS WebRTC gateway to T-Hrvatski Telekom for the operator's Terastream service-delivery initiative. In May 2014 it released a handset and tablet client for mobile voice and messaging, designed to help operators package and differentiate VoLTE, VoWi-Fi, and RCS services. It also developed a VoWi-Fi application for 3UK, aimed at allowing customers to place calls and send texts over Wi-Fi when cellular service was unavailable. In July 2014, T-Mobile launched VoLTE using an IMS voice solution developed by Mavenir Systems. Mavenir continued its acquisition program late in its independent existence. It acquired Stoke in November 2014, adding mobile and security gateway capabilities, and acquired Ulticom in January 2015 for $20 million, adding signaling software. In March 2015, Mitel announced that it would purchase Mavenir Systems for $560 million. The deal became effective in April 2015, bringing the original Mavenir Systems company to an end as an independent public business. The Mavenir name later returned in a different corporate entity. A subsequent company was formed through the combination of Xura, the Mavenir Systems business acquired by Mitel, and startup Ranzure. That later organization should not be conflated with the original Mavenir Systems entity, which operated from 2005 to 2015.

1. 2015Ulticom acquisition and Mitel transaction

   Mavenir acquired Ulticom for $20 million, and Mitel's $560 million acquisition of Mavenir Systems became effective in April.

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2. 2014T-Mobile launches VoLTE with Mavenir IMS technology

   T-Mobile launched VoLTE using an IMS voice solution developed by Mavenir Systems.

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3. 2013Initial public offering

   Mavenir Systems listed on the New York Stock Exchange, pricing its IPO at $10 per share and raising approximately $44.5 million.

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4. 2012MetroPCS VoLTE deployment

   Mavenir provided VoLTE service technology to MetroPCS.

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5. 2011Airwide Solutions acquisition

   Mavenir acquired Airwide Solutions, expanding into mobile messaging and wireless-infrastructure software.

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6. 2010Expansion financing and Fast Tech recognition

   The company raised $13.5 million in June and was ranked first on the Metroplex Technology Business Council's Fast Tech list.

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7. 2008First reported major financing round

   Mavenir Systems completed a financing round of $17.5 million in December.

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8. 2005Mavenir Systems is founded

   Rashad Ali founded the telecommunications software company in Richardson, Texas.

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A specialist enterprise telecommunications software provider helping mobile operators migrate voice, messaging, and communications services to IP-based and IMS architectures.

• IP Multimedia Subsystem solutionsTelecommunications network software

  Mavenir's IMS software provided the service-control and communications infrastructure needed to deliver operator voice and messaging services over IP networks. Its IMS capabilities supported deployments such as VoLTE, VoWi-Fi, WebRTC interworking, and other IP-based communications services.

• VoLTE solutionsMobile voice infrastructure

  The company's VoLTE offerings enabled mobile operators to carry voice services over 4G LTE networks. Mavenir supplied VoLTE technology to MetroPCS and developed the IMS voice solution used in T-Mobile's 2014 VoLTE launch.

• VoWi-Fi applicationMobile communications application2014

  Mavenir developed mobile software intended to let subscribers make calls and send text messages over Wi-Fi when cellular coverage was unavailable. A version was developed for 3UK through HockeyApp-based testing and development.

• IMS WebRTC gatewayNetwork gateway2014

  The IMS WebRTC gateway connected browser-based or WebRTC-enabled communications experiences with operator IMS infrastructure. Mavenir supplied this type of gateway to T-Hrvatski Telekom for its Terastream-related service-delivery program.

• Mobile voice and messaging clientOperator communications client2014

  Released for handsets and tablets in 2014, the client was designed to help operators present branded voice and messaging experiences across VoLTE, VoWi-Fi, and Rich Communications Services.

• Mobile messaging and wireless infrastructure softwareMessaging infrastructure2011

  Through its acquisition of Airwide Solutions, Mavenir added software for mobile messaging and wireless Internet infrastructure to its broader operator-services portfolio.

• Mobile and security gateway softwareNetwork security and gateway software2014

  The acquisition of Stoke expanded Mavenir Systems into mobile and security gateway technology, complementing its IMS, voice, messaging, and service-enablement products.

• Signaling solutions softwareTelecommunications signaling2015

  Ulticom's signaling software became part of Mavenir Systems after the January 2015 acquisition, adding signaling capabilities to the company's mobile-network software portfolio.

• 2015Acquire UlticomM&A

  Mavenir sought to strengthen its network signaling capabilities.

  What changed. Mavenir acquired Ulticom in January 2015 for $20 million.

  Aftermath. Ulticom's signaling software became part of Mavenir's expanded telecommunications portfolio.

  Acquisition price. $20 million (January 2015)

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• 2015Sell Mavenir Systems to MitelM&A

  Mavenir Systems had expanded through public financing, operator deployments, and acquisitions, making it an acquisition target in the enterprise communications market.

  What changed. Mitel announced a $560 million acquisition in March 2015, with the transaction becoming effective in April.

  Aftermath. Mavenir Systems ceased to operate as an independent company. The Mavenir name later reappeared in a different corporate structure.

  Acquisition value. $560 million (Announced March 2015; completed April 2015)

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• 2014Acquire StokeM&A

  Mavenir aimed to add gateway and security capabilities to its mobile-network software portfolio.

  What changed. It acquired Stoke in November 2014.

  Aftermath. The acquisition added mobile and security gateway technology before Mavenir's sale to Mitel.

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• 2013Go public on the New York Stock ExchangeOther

  Mavenir needed additional capital and public-market access while expanding its operator software business.

  What changed. The company completed an IPO in November 2013, pricing shares at $10 and raising approximately $44.5 million.

  Aftermath. Mavenir operated as a publicly traded company until its acquisition by Mitel in 2015.

  IPO proceeds. Approximately $44.5 million raised (November 2013)

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• 2011Acquire Airwide SolutionsM&A

  Mavenir sought to expand beyond core communications software into mobile messaging and wireless-infrastructure capabilities.

  What changed. It acquired Airwide Solutions in May 2011.

  Aftermath. The transaction broadened Mavenir's messaging and wireless-network software portfolio.

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• 2015Mavenir Systems acquires Ulticom for $20 million

  The acquisition added Ulticom's signaling-solutions software to Mavenir Systems' telecommunications portfolio.

  M&A
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• 2015Mitel agrees to acquire Mavenir Systems

  Mitel announced a $560 million acquisition of Mavenir Systems, ending the company's independence when the transaction took effect in April.

  M&A
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• 2014Mavenir provides IMS WebRTC gateway to T-Hrvatski Telekom

  Mavenir supplied an IMS WebRTC gateway for T-Hrvatski Telekom's Terastream-related service-delivery program.

  Product launch
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• 2014Mavenir releases mobile voice and messaging client

  The company introduced client software for handsets and tablets designed to support operator differentiation across VoLTE, VoWi-Fi, and RCS services.

  Product launch
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• 2014Mavenir develops VoWi-Fi application for 3UK

  Mavenir worked with 3UK on a mobile application intended to let subscribers call and send messages over Wi-Fi outside cellular coverage.

  Product launch
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• 2014T-Mobile launches VoLTE using Mavenir IMS technology

  T-Mobile launched a VoLTE service based on an IMS voice solution developed by Mavenir Systems.

  Product launch
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• 2014Mavenir Systems acquires Stoke

  The acquisition expanded Mavenir's portfolio with mobile and security gateway technology.

  M&A
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• 2013Mavenir Systems partners with Radisys on VoLTE deployments

  The companies announced cooperation on VoLTE deployments in European and United States markets.

  Other
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• 2013Mavenir Systems joins 4G Americas Board of Governors

  The wireless-industry association elected Mavenir Systems to its Board of Governors.

  Other
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• 2013Mavenir Systems opens user experience center in Zagreb

  The Zagreb center was established to demonstrate and promote VoWi-Fi, VoLTE, and RCS offerings.

  Other
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• 2013Mavenir Systems completes initial public offering

  The company began trading on the New York Stock Exchange after pricing its shares at $10 and raising approximately $44.5 million.

  Other
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• 2012Mavenir supplies VoLTE service technology to MetroPCS

  Mavenir Systems provided technology supporting MetroPCS's Voice over LTE service.

  Product launch
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• 2011Mavenir Systems acquires Airwide Solutions

  The acquisition added mobile messaging and wireless-infrastructure capabilities from Massachusetts-based Airwide Solutions.

  M&A
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• 2010Mavenir Systems raises $13.5 million in venture financing

  Alloy Ventures, Austin Ventures, and North Bridge Venture Partners backed a further financing round for the company.

  Other
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• 2008Mavenir Systems completes $17.5 million financing round

  The company completed a financing round intended to support its telecommunications software business.

  Other
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1. Mavenir Systems
2. Mavenir official website