U.S.-based provider of cloud-based network software, Mavenir has reportedly inked an agreement with Koch Strategic Platforms (KSP) to receive minority equity investment worth USD 500 million. Through the transaction, affiliates of Siris Capital Group LLC, a technology-focused private equity company will continue to remain equity holders.
Notably, Mavenir claims to be the only entity across the nation to offer end-to-end, cloud-led software solutions that meet the demand for 5G digital transformation by communication service providers as well as enterprises.
The company’s next-gen software program drives the digital transformation of mission-crucial networks, accelerating software network transformation for more than 250 Communication Service providers in over 120 countries.
All in all, Mavenir is focusing on becoming the lead disruptor in introducing the telecom sector to more competition. The team aims at paving the way for faster advancements with nearly 500 patents and its investment in OpenRAN development.
Explaining about the OpenRAN solution, Pardeep Kohli, CEO, Mavenir, was reportedly quoted stating that the technology offers interoperability, widening the innovation prospects by allowing various vendors to play an integral role in 5G technology.
Kohli further added that as compared to the conventional RAN (radio access network) system that integrates hardware and software mostly from a single supplier, OpenRAN enables competition. It guarantees to accelerate network development and reduce costs.
For the record, in November 2020, Mavenir was selected by DISH Network to extend 5G services globally. The firm aims at offering several applications at an affordable rate through virtualization. Mavenir’s advanced flexible Radio Access Network has also gained the attention of Intel.
According to David Park, President of KSP, the company is undertaking material minority equity positions in innovative firms that have strong management teams. Through its partnership, the company is focusing on extending innovation and 5G technology to revolutionize sectors like energy, healthcare, and industrial automation.