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US: Xura agrees to be acquired for $643 million by Siris Capital

By  |  May 23, 2016

Xura revealed Monday that reached a definitive agreement to be acquired by Siris Capital Group affiliates. According to the company, the transaction reflected an equity value of about $643 million. Aside from that, as part of the transaction, its current credit facility would be refinanced.

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    Xura said that based on the agreed terms and conditions, Siris would buy all of the outstanding shares of its common stock for $25.00 per share in cash. This represented a 19.2 percent premium from the Friday’s closing price and 14.8 percent premium over the 30-day volume-weighted average closing stock price.

    Siris Capital Executive Partner, Hubert de Pesquidoux, commented about the transaction saying: “Xura has a strong, credible history in delivering communications services to CSPs globally, and will continue to have long-term value for the digital ecosystem as the company evolves. We see great potential and talent within the organization, and we are excited to partner with Xura to build a business with digital innovation and customers at its core. Importantly, Siris has an extensive history of successfully operating businesses that provide mission-critical products to CSPs and understands that continued investment and customer partnership are instrumental to delivering world-class solutions.”

    Full Content: Benzinga

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