Xura moves into private hands with $640m Siris deal

Xura has announced the completion of its acquisition by Siris Capital Group in a deal which values the company at roughly $640 million.

The deal was initially announced during May, but was approved by Xura shareholders on 16 August. The company will continue to operate under the Xura brand having rebranded from Comverse last year after SMS platform provider Acision was acquired to bolster the company’s armoury in the digital services segment. The move back into the private sector will also give the team additional freedom for long-term strategic imperatives having seemingly removed shareholders demands for quicker gains.

“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,” said Hubert de Pesquidoux, Executive Chairpan at Siris Capital. “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 honoured to be part of Xura’s next chapter.”

The company’s primary focus over recent years has been digital services including messaging, data, network security and virtualization services. The company currently has roughly 3,000 employees, though growth ambitions have not been vocalised to date.

“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,” said Philippe Tartavull, CEO at Xura. “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.”