Mavenir Systems, Inc.

Mavenir Signs Debt Recapitalization Transaction to Drive Continued Growth

Transaction to strengthen Mavenir’s balance sheet and support its strategic focus on its profitable Mobile Core segment

Mavenir to refocus Open RAN investments on 4G and 5G software, will accelerate investment in AI

Siris to be controlling shareholder with support from key existing Mavenir lenders

RICHARDSON, Texas, June 16, 2025 (GLOBE NEWSWIRE) -- Mavenir, the cloud-native network infrastructure provider building the future of networks, and its existing investor Siris, a leading private equity firm focused on investing and driving value creation in technology companies, today announced that they have signed a comprehensive recapitalization with Mavenir’s lenders.

This transaction will meaningfully strengthen Mavenir’s balance sheet by eliminating over $1.3 billion of existing indebtedness and securing $300 million of new senior financing, in addition to a smaller subordinated facility provided by Siris and participating lenders. With increased liquidity, a more stable capital structure and substantially reduced net leverage, Mavenir will be well-positioned for sustained growth and long-term success.

The scale and structure of this financial transformation reflect the confidence and ongoing commitment of Siris and the lenders. With this enhanced financial foundation, Mavenir will be well-positioned to build on its industry-leading position in the Mobile Core development space. Siris will maintain its controlling ownership position in Mavenir and remain an active partner as Mavenir advances its vision of a cloud-native, AI-enabled network.

“We have been spearheading cloud transformation in Core and Open RAN. With a strengthened balance sheet and lower leverage, we are doubling down on our software expertise and domain knowledge to deliver a comprehensive, end-to-end, AI-native telco stack, setting Mavenir up for profitable growth in both Core and Open RAN. We are excited to leverage our Mobile Core leadership to accelerate software-driven network transformations for our customers around the world,” said Pardeep Kohli, President and CEO of Mavenir.

“This is a pivotal moment for our company,” said Hubert de Pesquidoux, Mavenir Executive Chair and Siris Executive Partner. “By strengthening our capital structure, we will be better positioned to execute our strategy, invest in innovation, and deliver on our commitments. We are deeply grateful to all our stakeholders – our customers, partners, investors, and especially our employees – for their unwavering support and confidence throughout this process."

“Mavenir has been a powerful innovator throughout its existence, and we are proud to continue our long-standing partnership with them as they continue building upon their leading position in the software industry,” said Frank Baker, Co-Founder and Managing Partner of Siris. “We look forward to supporting Mavenir during this next chapter of innovation and growth.”

The transaction is expected to close in approximately four to six weeks.

A Refined Investment Strategy

As part of these broader efforts to position itself for growth, Mavenir will double down on its profitable Core segment, a suite of software applications focused on voice, messaging, video, and data services, while refining its Open RAN investments to prioritize software in 4G and 5G deployments. Mavenir will also maintain its Open RAN hardware IP and continue to support its existing customers to ensure maximum flexibility in the evolving Open RAN landscape. This strategic decision will ensure Mavenir is best positioned to deliver even more innovative products and programs to its global customer base while remaining at the forefront of the Open RAN ecosystem.

Mavenir will also accelerate investment in AI capabilities across its Mobile Core and Open RAN businesses to drive autonomous networks, deliver AI-native solutions, and unlock new revenue streams through AI-based solutions. This strategic focus aligns with Mavenir's vision of building the future of networks with cloud-native solutions that run on any cloud.

About Mavenir
Mavenir is building the future of networks today with cloud-native, AI-enabled solutions which are green by design, empowering operators to realize the benefits of 5G and achieve intelligent, automated, programmable networks. As the pioneer of Open RAN and a proven industry disruptor, Mavenir’s award-winning solutions are delivering automation and monetization across mobile networks globally, accelerating software network transformation for 300+ Communications Service Providers in over 120 countries, which serve more than 50% of the world’s subscribers. For more information, please visit www.mavenir.com

About Siris
Siris is a leading private equity firm that targets control investments in North American, middle-market technology and technology-enabled services companies. Siris leverages its network of exclusive Executive Partners to identify, validate, and deliver on the operational and strategic objectives of its investments. Siris is based in New York and West Palm Beach and has invested ~$9 billion since inception as of December 31, 2024. www.siris.com

Contacts

For Mavenir:

Emmanuela Spiteri
PR@mavenir.com

For Siris:

Dana Gorman
dana.gorman@h-advisors.global