Transaction eliminates more than $1.3 billion of existing debt and secures $300 million of new senior financing, meaningfully strengthening Mavenir’s balance sheet.

Mavenir well-positioned for sustained growth and long-term success.

Siris remains controlling shareholder with support from key existing Mavenir lenders.

Richardson, Texas: 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 completed their previously announced comprehensive recapitalization with Mavenir’s lenders.

“Mavenir has long been at the forefront of cloud transformation, and with a strengthened financial foundation, we are even better positioned to continue innovating for our global customer base,” said Pardeep Kohli, President and CEO of Mavenir. “We look forward to continuing to redefine the Network of the Future alongside Siris and our lender partners.”

The transaction eliminates more than $1.3 billion of existing indebtedness and secures $300 million of new senior financing, in addition to a smaller subordinated facility provided by Siris and participating lenders. With a more stable capital structure, increased liquidity and substantially reduced net leverage, Mavenir is well-positioned for sustained growth and long-term success.

Siris remains Mavenir’s controlling owner and will continue to be an active partner as Mavenir advances its vision of a cloud-native, AI-enabled network.

“The completion of this transaction reflects Siris and the lenders’ confidence and commitment to Mavenir and its mission,” said Hubert de Pesquidoux, Mavenir Executive Chair and Siris Executive Partner. “With a meaningfully strengthened balance sheet and Siris’ continued partnership and support, Mavenir will continue accelerating its leading position in the software industry.”