BARCELONA — Mobile World Congress — Unified communications (UC) provider Mitel has announced it is acquiring Mavenir in a deal worth $560 million, just days after the VoLTE enabler announced a new push to bring voice services to the cable industry.
Mitel Networks Corp. announced the acquisition early Monday, noting that the combined companies will have a comprehensive portfolio of UC and rich communications services (RCS) to serve fixed and mobile operators. The focus of the deal is clearly on the mobile space, but Mavenir Systems Inc. is hoping to include cable companies in that fold too with a new complete voice-over-WiFi (VoWiFi) platform for cable operators wanting to take advantage of their WiFi footprints. (See Mavenir Launches VoWiFi for Cable.)
Mitel will acquire all of the outstanding shares of Mavenir common stock in a cash and stock deal valued at around $560 million.
Mavenir has just recently completed some acquisitions of its own, including the purchase of small cell security vendor Stoke in late 2014 and a $20 million acquisition of Diameter signaling vendor Ulticom in January. The company, founded in 2005, has raised $103.5 million in six funding rounds and filed for an IPO in 2013. (See Mavenir Buys Stoke for Security, Small Cell,Mavenir Spends $20M on Ulticom for Signaling and Mavenir Files for IPO.)