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Comverse, Acision introduce new company name Xura

2015-09-09 09:41:00| Telecompaper Headlines

(Telecompaper) Comverse and Acision have together officially introduced Xura, a new global company, brand name and ticker symbol. Comverse, which closed its acquisition of Acision in early August, said the new identity reflects the joint company's mission to be the trusted next-generation digital technology provider to operators and enterprises across the globe. The new company will offer communication systems that generate new monetization and engagement opportunities with today's multi-device, multi-service consumer. Xura customers already include 8 of the top 10 global operators, reaching over three billion end points. The company has a new website and will be renaming all Comverse and Acision subsidiaries. Philippe Tartavull, the CEO at Xura, said Comverse wanted a brand name with no boundaries and with an 'anything is possible' mindset.

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Why Are Hedge Funds Selling Shares Of Comverse Inc. (CNSI), EMCORE Corporation (EMKR)?

2015-08-31 18:44:48| Semiconductors - Topix.net

In a 13D filing with the Securities and Exchange Commission, Jeffrey Bronchick 's Cove Street Capital reported reducing its stake in Comverse Inc. by 344,400 shares over the last 60 days. Therefore, the investment firm currently holds a 1.17 million-share position in the digital services company, accounting for 5.4% of its outstanding common stock.

Tags: corporation selling funds shares

Comverse expands with Acision takover

2015-06-15 14:27:00| Telecompaper Headlines

(Telecompaper) Comverse announced an agreement to acquire Acision, maker of mobile messaging systems for operators and businesses. Comverse will pay USD 135 million cash, 3.13 million of its own shares and up to USD 35 million in earn-out payments for the UK-based company. It will also take over Acision's USD 157 million senior credit facility following completion of the transaction. Both boards have approved the deal, and pending regulatory approval, it should close by the end of September. The merged companies will be led by a team comprised of executives from both organizations, under the leadership of Comverse CEO Philippe Tartavull. The company will remain headquartered in Massachusetts, in the US. The takeover marks a shift in Comverse's business, after it recently agreed to sell its BSS activities to Amdocs. The new company will focus on digital applications for operators and enterprises, including data analytics, secure enterprise application-to-person (A2P) messaging, credit orchestration, two-factor authentication, M2M communication, RCS and WebRTC, and APIs for rapid service creation.

Tags: expands comverse acision