Siris Acquires Xura, Formerly Comverse, For $643M

May 23, 2016 | Siris Capital has acquired Comverse, formerly Israel’s flagship high-tech company, which last year changed its name to XURA Inc. for $643 million. Siris is paying $25 per share, a 19.2% discount on the shares closing price on Nasdaq yesterday. Last year Comverse also sold its billing division to Amdocs Ltd. for $272 million and transferred other operations to Indian company Tech-Mahindra while acquiring UK company Acision for $402 million. XURA today focuses on digital services. Comverse, once one of Israel’s largest high-tech employers, only has 300 employees in the country today. Siris Capital is a New York based investment fund founded in 2011, which invests in ICT. XURA’s share price rose 17.7% in premarket trading on Nasdaq.