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 - Seite 3

Combined Company to Benefit from World-Class Management and Board-Level Support

Pardeep Kohli is a widely respected wireless veteran with over 20 years of industry experience, primarily focused on driving innovation in the telecom infrastructure space. He most recently served as the CEO of Ranzure, an early-stage developer of 5G Cloud RAN technology, and was President and CEO of Mavenir Systems from 2006 to 2015. During his time at Mavenir, Mr. Kohli grew the business from zero to $175 million in annual revenue and led multiple industry-first innovations, including the first at-scale deployments of virtualization and software defined networking to mobile core networks.

Commenting on the announcement, newly appointed Xura CEO Pardeep Kohli said:

"I am honored and excited to lead Xura and the combined company during this important and transformative time. Both Xura and Mitel Mobile have strong legacies of market-leading innovation and commitment to customer success. Our new company will offer a fully-virtualized, software-based solution set across every layer of the mobile network infrastructure stack, including radio access, packet core and 5G applications.

"We will be the only pure play solution provider with no vested interest in maintaining and promoting proprietary solutions. We look forward to partnering with our customers to achieve operational efficiencies as they prepare to handle the exponential traffic growth that the industry's IoT and 5G applications will bring."

Krish Prabhu, who will join the combined company's Board of Directors upon completion of the transactions, most recently served as the CTO of AT&T and President of AT&T Labs from 2011 to 2016. He previously served as Interim CEO and President of Tekelec, as CEO and President of Tellabs Inc., as a Venture Partner of Morganthaler Venture Partners, and as COO of Alcatel Telecom. Mr. Prabhu's deep industry experience, thought leadership, and strong relationships with mobile operators will serve the Board of Directors and management team well.

Conditions to Closing and Advisors

The transactions are subject to customary closing conditions, including the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act and other foreign antitrust regulatory approvals, as necessary. Upon completion of the transactions, Mitel Mobile and Ranzure will become wholly owned by affiliates of Xura. The transactions are currently expected to close in the first quarter of 2017.