Mavenir Systems

Mavenir Systems
Public
Traded as NYSE: MVNR
Industry Communication Software
Founded Richardson, Texas
Founder Rashad Ali
Key people
 Pardeep Kohli (president and CEO
Revenue $108 million
Number of employees
 986
Website www.mavenir.com

Mavenir Systems ( NYSE:MVNR ) was a software-based telecommunications networking provider based in Richardson, Texas.[1][2] The company's software aims to deliver internet protocol (IP)-based voice, video, rich communications and enhanced messaging services to clients.[3] Mavenir Systems provides service to approximately 120 mobile networks globally.[4]

Rashad Ali founded the company in 2005.[5][6] Pardeep Kohli serves as the company's president and CEO.[7]

In March 2015, Mitel announced to buy Mavenir Systems for $560 mln.[8]

History

Mavenir Systems was founded in 2005.[4] In December 2008, the company completed a funding round for $17.5 million.[9] Another funding round for $13.5 million backed by Alloy Ventures, Austin Ventures and North Bridge Venture Partners was completed in June 2010.[9] The company raised $40 million in a funding round backed by previous investors and Cross Creek Capital.[5][10] The funding round brought the company's total funding to $105 million.[5] Mavenir Systems placed first on the Metroplex Technology Business Council's Fast Tech list in 2010 with a 479.6 percent growth.[4] Mavenir Systems placed second on the Fast Tech list the following year.[4]

Mavenir Systems provided VoLTE service to MetroPCS in 2012. The company partnered with Radisys in February 2013 on VoLTE deployments in Europe and the United States.[11] 4G Americas, a wireless industry trade association, elected Mavenir Systems to its Board of Governors in April 2013.[12] The company opened a user experience center in Zagreb, Croatia in April 2013.[13] The center intended to demonstrate and bring new offerings for VoWi-Fi, VoLTE and rich communication services (RCS) to the market.[13]

In November 2013, Mavenir Systems became a publicly traded company on the New York Stock Exchange.[14] The company priced its shares at $10 and raised approximately $44.5 million in the initial public offering.[15] Mavenir Systems provided T-Hrvatski Telekom, Croatia's largest telecommunications company with its IMS WebRTC gateway in February 2014.[16] The gateway furthered T-Hrvatski Telekom's Terastream project, a simplified service delivery model.[16] In May, Mavenir Systems released a mobile voice and messaging client software for handsets and tablets.[17] The software is aimed to allow mobile operators to differentiate their Voice over LTE (VoLTE), Voice over WiFi (VoWiFi) and Rich Communication Services (RCS).[17]

The company began developing a VoWiFi mobile app for 3UK on HockeyApp, a service to develop and test mobile apps, in June 2014.[18] The mobile app is intended to provide 3UK subscribers with the ability to make calls and send text messages when out of cellular coverage (VoWiFi).[18] In July 2014, T-Mobile launched its VoLTE service with an IP Multimedia Subsystem(IMS) voice solution developed by Mavenir Systems.[7] T-Mobile was the first major provider to launch VoLTE according to Converge Network Digest.[7]

Acquisitions

In May 2011, Mavenir Systems acquired Airwide Solutions, a Massachusetts-based mobile messaging and wireless internet infrastructure company.[10][19] In November 2014, Mavenir Systems acquired Stoke, a mobile and security gateway company.[20]

On January 13, 2015, Mavenir Systems acquired Ulticom Inc, a signaling solutions software provider, for $20 million.[21][22][23]

References

  1. ↑ Phil Goldstein (2014-06-13). "Mavenir exec: Carriers could use VoLTE to deliver voice services on tablets, TVs". FierceWireless. Retrieved 2014-08-17.
  2. ↑ "Form 10-K". 2013. Retrieved 2014-08-17.
  3. ↑ "MAVENIR SYSTEMS INC (MVNR) IPO". Retrieved 2014-08-17.
  4. 1 2 3 4 Jeff Bounds (2012-08-31). "Fast Tech 35: Mavenir Systems Inc.". Dallas Business Journal. Retrieved 2014-08-17.
  5. 1 2 3 Stacey Higginbotham (2011-05-30). "Mavenir Raises $40M and Acquires Airwide Solutions". GIGAOM. Retrieved 2014-08-17.
  6. ↑ "Mavenir Systems Inc.". Retrieved 2014-08-17.
  7. 1 2 3 "T-Mobiles VoLTE is Powered by Mavenir's IMS core". Converge! Network Digest. 2014-07-14. Retrieved 2014-08-17.
  8. ↑ "Canada's Mitel Networks to buy Mavenir Systems for $560 mln" (Press release). March 2, 2015. Retrieved March 2, 2015.
  9. 1 2 Jeff Bounds (2010-06-28). "Mavenir Systems raises $13.5 Million". Dallas Business Journal. Retrieved 2014-08-17.
  10. 1 2 "Mobile Software Player Mavenir Gains $40M, Acquires Airwide Solutions". 2011-05-31. Retrieved 2014-08-17.
  11. ↑ Jean-Pierre Joosting (2013-02-18). "Radisys and Mavenir partner on VoLTE". Retrieved 2014-08-17.
  12. ↑ "4G Americas Elects Mavenir Systems to its Board of Governors". 2013-03-27. Retrieved 2014-08-17.
  13. 1 2 "Mavenir's user experience centre opens in Zagreb". Croatian Times. 2013-04-19. Retrieved 2014-08-17.
  14. ↑ Don Dion (2013-11-04). "Mavenir Systems IPO Is Not Calling At Proposed Range". Seeking Alpha. Retrieved 2014-08-17.
  15. ↑ LIZETTE CHAPMAN (2011-11-08). "Going Public in Twitter's Shadow, Mavenir Takes 'Long-Term View' After IPO". The Wallstreet Journal. Retrieved 2014-08-17.
  16. 1 2 Rory Lidstone (2014-02-19). "Mavenir's WebRTC Gateway Helps Improve T-Hrvatski Telekom's Network". Web RTC World. Retrieved 2014-08-17.
  17. 1 2 "Mavenir Systems launches mobile voice and messaging client". 2014-05-06. Retrieved 2014-08-17.
  18. 1 2 Tony Dennis (2014-06-30). "Three UK using Mavenir to offer VoWifi". GoMo News. Retrieved 2014-08-17.
  19. ↑ Lynnette Luna (30 May 2011). "Mavenir buys Airwide, secures $40M in funding". FierceWirelessTech. Retrieved 14 December 2014.
  20. ↑ "Mavenir buys into security gateways with Stoke purchase". ReTHINK Research. 20 November 2014. Retrieved 14 December 2014.
  21. ↑ Sarah Thomas (January 13, 2015). "Mavenir Spends $20M on Ulticom for Signaling". LightReading. Retrieved February 5, 2015.
  22. ↑ Dan Meyer (January 13, 2015). "Mavenir to bolster telecom diameter signaling platform with Ulticom purchase". RCR Wireless News. Retrieved February 5, 2015.
  23. ↑ Payla Bernier (January 15, 2015). "Wheelings & Dealings: Mavenir's Purchase of Ulticom Signals LTE's Growing Diameter Demands". NFV Zone. Retrieved February 5, 2015.
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