Xura buys Mitel Mobility for $385m

Comverse photo: Tamar Matzapi

Xura, formerly Comverse, has also acquired 5G radio access technology developer Ranzure for an undisclosed sum.

Digital communications developer Xura Inc. (Nasdaq: MESG) (formerly Comverse) has acquired Mitel Mobility, the mobile operations of Mitel, for $385 million. Xura is also acquiring 5G radio access technology developer Ranzure for an undisclosed sum.

Xura, which changed its name from Comverse in 2015, was once one of Israel's largest high-tech companies. But after falling foul of the US authorities in a backdating scandal more than a decade ago, the company fell into hard times. No longer an Israeli company in terms of senior management, and headquartered in the US, Xura still has 300 Israeli employees at its development center in Ra'anana.

Published by Globes [online], Israel business news - www.globes-online.com - on December 20, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

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Comverse photo: Tamar Matzapi
Comverse photo: Tamar Matzapi
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