Affiliates of Xura Enter into Agreements to Acquire Mitel Mobile and Ranzure Networks to Create a New Key Player in 5G Ready Mobile Network Solutions

Pardeep Kohli, Co-Founder and CEO of Ranzure Networks, Appointed CEO of Xura and to Serve as CEO of the Combined Company

• Establishes a pure play in fully-virtualized, 5G ready software solutions across every layer of the mobile network infrastructure stack, helping Communications Service Providers ("CSPs") drive efficiencies, flexibility and scalability as they adopt the cloud and virtualize their networks
• New solution set enables customers to handle exponential traffic growth from Internet of Things ("IoT") and 5G applications
• Krish Prabhu, former CTO of AT&T and former President of AT&T Labs, to join the Board of Directors of the combined company
• Combined company will be based in Dallas, Texas

WAKEFIELD, Mass., Dec. 19, 2016 (GLOBE NEWSWIRE) -- Xura, Inc. ("Xura"), a leading provider of digital communications services, today announced that its affiliates have entered into definitive agreements to acquire Mitel Mobility, Inc. ("Mitel Mobile"), a division of Mitel Networks Corporation ("Mitel") (Nasdaq:MITL) (TSX:MNW), and Ranzure Networks, Inc. ("Ranzure").            

• Mitel Mobile, formerly Mavenir Systems, is a leading provider of Voice-over-Long-Term Evolution ("VoLTE"), Voice-over-WiFi ("VoWiFi"), video, Rich Communication Services ("RCS"), messaging, radio access and packet core solutions
• Ranzure, founded by former Mavenir Systems CEO Pardeep Kohli, is an early-stage venture focused on developing 5G Cloud Radio Access Network ("RAN") technology

The Xura Board of Directors has appointed Pardeep Kohli, formerly CEO of Mitel Mobile's predecessor (Mavenir Systems) and Co-Founder and CEO of Ranzure Networks, to succeed Philippe Tartavull as CEO of Xura, effective today. Upon completion of the transactions, Mr. Kohli will serve as the CEO of the combined company. Mitel Mobile President, BG Kumar, will join Mr. Kohli's management team and former CTO of AT&T and former President of AT&T Labs, Krish Prabhu, will join the Board of Directors of the combined company. The combined company will operate from Dallas, Texas.

Hubert de Pesquidoux, the executive chairman of Xura and future executive chairman of the combined company, commented:

"Xura has undergone a significant transformation over the past two years, and in the last several months has successfully transitioned to private ownership with the backing and support of Siris Capital, a financial sponsor with deep experience and operational expertise in telecommunications. I would like to acknowledge Philippe Tartavull for his significant contributions to the company during this transformational period. Today's announcement marks a new and exciting chapter for Xura, and will accelerate and enhance the combined company's ability to grow and deliver value to its customers, partners and employees."