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Mavenir develops and supplies cloud-native software to the communications service provider (CSP) market. The company serves demand from mobile network operators for digital transformation to reduce cost while delivering additional value to consumers and business users and enabling private enterprise networks and new industrial use cases. The software-based approach makes use of commercial off-the-shelf (“COTS”) hardware, rather than proprietary network equipment, with a layer that virtualizes hardware resources (referred to as Network Functions Virtualization “NFV”).

Having established strong market positions in virtualized core networks, IMS and messaging, including RCS and RCS Business Messaging, the company has now diversifying into areas of Packet Core and Radio Access Networks, traditionally the largest segment of the mobile network infrastructure market, with OpenRAN-based solutions.

Mavenir has been an active participant in the OpenRAN Alliance and Telecom Infra Project and, in September 2020, acquired ip.access, a specialist small cell technology provider to expand its RAN portfolio to cover 2G, 3G, 4G and 5G.

As Governments and regulators in the USA and many countries across Europe have raised security fears and sought to limit the use of Huawei technology within mobile networks, including the removal of some installed Huawei equipment, OpenRAN and cloud technology has been widely promoted as a viable replacement strategy with Mavenir named as one of the key protagonists and possible alternative vendors.

The company believes it is the only U.S. headquartered company with end-to-end, cloud-native, 5G capabilities. As of September 30, 2020, 50% of Mavenir’s customers have been customers for 12 or more years.

The company is headquartered in Richardson, Texas US. Mavenir’s 2019 turnover was US$427.4 million. The company had 4,100 employees and more than 250+ telecoms service provider customers at the end of 2020.

History
Mavenir has a complex corporate history as a result of successive acquisitions and spin-offs. It initially was a company focused on transition from 3G to 4G with IMS products and solutions, founded in 2006. It acquired Airwide, Stoke and Ulticom and In November 2013, the company went public on NYSE with MVNR ticker symbol. In April 2015, the company was acquired by Mitel Networks Corporation in 2015 to create Mitel Mobility.

How it came together: Mavenir now comprises pieces of Comverse, Inc., Acision and a number of other acquired companies. Comverse, Inc derived from Comverse Technology, was active in traditional value-added services (VAS), digital cloud services, Unified Communications (VoIP & UC), and a suite of evolved communication services. Acision was a privately held secure mobile messaging and engagement services firm. These entities were combined in September 2015 to form a new company called Xura, focused on two core product areas: digital communications services and converged communications (traditional and IP), Xura traded under the stock symbol MESG on the NASDAQ exchange. The company had over 350 service providers and enterprises customers across 100 countries.

On 23 May 2016, Xura was acquired by affiliates of Siris Capital Group for $25.00 per share in an all-cash deal that valued the company at approximately $643 million. The transaction closed on 19 August 2016.

The New Mavenir
On 19 December 2016, affiliates of Xura agreed to acquire Mitel Mobility, for $385 million, and a second 5G company, Ranzure Networks Inc., for an undisclosed sum. When the transactions completed, the newly merged company was renamed Mavenir Systems Inc., trading under the Mavenir brand.

Mavenir has continued to acquire technology - including its acquisitions of Aquto, a cloud-based sponsored data platform (2018); Argyle Data (2018), a machine learning security platform; Brocade’s vEPC and ip.access (2020), a specialist small cell vendor.

On 6 October 2020, Mavenir announced that it had filed a registration statement for an Initial Public Offering (IPO) of ordinary shares on Nasdaq. Due to market volatility in the run-up to the 2020 US elections the company postponed the IPO on 28 October but stated that it would keep market conditions under review in the following months.

Company timeline

 * 2005: Mavenir Systems founded
 * 2008: Mavenir Systems completes round of funding for $17.5 million
 * 2010: Mavenir Systems completes a round of funding round for $13.5 million backed by Alloy Ventures, Austin Ventures and North Bridge Venture Partners
 * 2011: Mavenir Systems completes round of funding for $40 million backed by August Capital and including existing investors Alloy Ventures, Austin Ventures, North Bridge Venture Partners and Greenspring Associates
 * 2011: Mavenir Systems acquired Airwide Solutions, a messaging specialist for $40 million
 * 2013: Mavenir Systems IPO (NYSE) under ticker MVNR, raising $44.5 million
 * 2014: acquired security gateway vendor Stoke for $2.9 million plus $1.9 million of debt
 * 2015: acquired signalling vendor Ulticom for $20 million
 * 2015: acquired by Mitel for $560 million
 * 2016: rebranded by Mitel to Mitel Mobile, then sold to Xura (for $350 million)
 * 2016: Pardeep Kohli and Ashok Khuntia founded Ranzure to disrupt the Radio Access Network market through cloud-based virtualisation. Ranzure raises $13 million in Series A funding.
 * 2016: Xura acquired Ranzure
 * 2017: Siris merges Xura, Ranzure and Mitel Mobile and rebrands as Mavenir
 * 2017: Brocade vEPCc acquisition
 * 2018: acquired Aquto
 * 2018: acquired Argyle Data
 * 2020: acquired ip.access
 * 2020: IPO postponed due to market volatility

CEO
Mavenir’s President and Chief Executive Officer is Pardeep Kohli who has been associated with several of the ventures that make up the company today. He has been in his current post since December 2016 and was previously CEO of Xura, which he joined after it acquired Ranzure, a company that Kohli had founded earlier that year. Before Ranzure, Kohli had been President and CEO of Mavenir Systems, Inc, guiding it through its IPO in November 2013 and subsequent acquisition by Mitel Networks Corporation in 2015.

Prior to Mavenir Systems, Pardeep was Co-Founder, President and CEO of Spatial Wireless, which was acquired by Alcatel in 2004

Customers
The company says it has 250+ operator customers in 120 countries, including 17 of the top 20 largest operators. Known examples include:


 * 2012 – MetroPCS - VoLTE solution to support what was claimed to be a world's first
 * 2014 – T-Hrvatski Telekom - IMS HSS-FE
 * 2015 – T-Mobile USA - RCS
 * 2017 – Sprint – NFV Cloud Deployment
 * 2018 – Telefonica Germany – Virtualised IMS for VoLTE and VoWiFi
 * 2019 – Verizon – cloud core
 * 2019 – Partner – virtualized mobile core
 * 2019 - Cellcom – virtualised IMS mobile core and VoWiFi
 * 2019 – Telefónica Argentina - Signalling Firewall
 * 2019 – Vodafone - Open RAN
 * 2019 – Vodafone Idea – “Network as a Platform”
 * 2020 – T-Mobile Czech Republic and Slovak Telekom – NFV Harmonised IMS
 * 2020 – Telefonica “O2” UK - virtualised IMS
 * 2020 – Hudson Valley Wireless – Cloud-native LTE packet core
 * 2020 – Rakuten Mobile RCS
 * 2020 – Turkcell – Cloud-native IMS
 * 2020 – Dish - Open RAN
 * 2020 – Vodafone Idea – Open RAN
 * 2020 – Deutsche Telekom, Telefonica, Vodafone – RCS interconnection in Germany

Trials
Mavenir has been involved in OpenRAN and other virtualisation trials with several operators. Partnerships in the public domain include:


 * 2018 – Baicells – XRAN (Open RAN) interface testing
 * 2020 – Telefonica “O2” UK - OpenRAN
 * 2020 – Deutsche Telekom – web-scale validation of 5G SA core
 * 2020 – Airtel – Open RAN RAN Intelligent Controller (RIC)

Technology partnerships

 * 2019 – OEM agreement with Big Switch
 * 2019 – OpenRAN integration with Sunwave
 * 2020 – 5G private networks in Germany with Mugler
 * 2020 – Open RAN solutions in Japan with NEC
 * 2020 – Open RAN solutions in USA with Goodman Networks
 * 2020 – Open RAN solutions in USA with GDT
 * 2020 – Open RAN collaboration with Altiostar
 * 2020 – 5G campus networks systems integration in Germany with NTT Data
 * 2020 – 5G core UPF with NVIDIA
 * 2020 – RCS Business Messaging with Microsoft Azure
 * 2020 – Open RAN Remote Radio Head development with MTI