Affiliates of Siris Capital Group have completed the acquisition of Xura, a provider of digital communications services, in a transaction valued at approximately USD643 million.
The deal, which was initially announced on 23 May, was approved by a majority of Xura's shareholders on 16 August.
In connection with the closing of the transaction, the company, which will continue to operate as Xura Inc, will be wholly owned by affiliates of Siris Capital.
Xura aims to revolutionise the way the world communicates, accelerating its development of digital communications solutions for CSPs that will transform future engagement experiences across all networks, channels and devices.
Hubert de Pesquidoux, Siris Capital executive partner and Xura's new executive chairman, says: "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. 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."
"This is a momentous day for Xura," says Philippe Tartavull, CEO at Xura. "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 monetisation solutions to our customers. 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."
