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Mavenir exits $1.3B debt, bets big on AI-native telco stack

A $300 million funding boost and a new controlling owner mark Mavenir’s fresh start in the telecom race.

byKerem Gülen
July 30, 2025
in Industry

Mavenir Telecom has completed a recapitalization, eliminating over $1.3 billion in debt. This action provides $300 million in new financing and establishes Siris Capital as the controlling shareholder.

Mavenir announced the planned recapitalization last month, indicating an intention to refocus Open RAN investments on 4G and 5G software, rather than hardware. The Texas-based company has advocated for Open RAN, a technology aimed at diversifying the vendor supply chain.

Pardeep Kohli, Mavenir president and CEO, stated, “Mavenir has long been at the forefront of cloud transformation, and with a strengthened financial foundation, we are even better positioned to continue innovating for our global customer base.” Hubert de Pesquidoux, Mavenir executive chair and Siris Executive Partner, added, “The completion of this transaction reflects Siris and the lenders’ confidence and commitment to Mavenir and its mission.”

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Mavenir sheds $1.3B in debt, refocuses on AI and mobile core in major recapitalization deal


The company has contended with its debt position over the past year, as Open RAN kit investments did not yield anticipated returns, amid strong market competition from vendors like Ericsson and Samsung. Last month, Mavenir indicated it would “double down on its profitable Core segment” and “refine its Open RAN investments” to prioritize software in 4G and 5G deployments.

Kohli stated in June, “With a strengthened balance sheet and lower leverage, we are doubling down on our software expertise and domain knowledge to deliver a comprehensive, end-to-end, AI-native telco stack, setting Mavenir up for profitable growth in both Core and Open RAN.” Mavenir also affirmed it would retain its Open RAN hardware IP and continue supporting existing customers.

Mavenir has secured Open RAN agreements with several carriers, including UK operator Virgin Media O2 last year. The company also holds deals with Norway’s Ice to support its 4G and 5G networks, and Bermudan newcomer Paradise Mobile. However, the Open RAN market has presented challenges, with competitors like Ericsson securing significant contracts, such as the $14 billion deal with AT&T, despite Mavenir having a contract to supply the US giant with Open RAN radios.

Reports last year, obtained by Bloomberg, suggested Aramco Digital, the digital arm of Saudi Arabian oil company Aramco, was in discussions regarding a potential $1 billion investment in Mavenir, though this has not materialized. During MWC earlier this year, Rick Mostaert, vice president of product management at Mavenir, informed DCD that the company maintains an optimistic outlook on Open RAN opportunities, while criticizing incumbents for perceived lack of openness regarding the technology.


Featured image credit

Tags: mavenir

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