Mavenir Systems® Announces an Agreement to Acquire Stoke
Expanding Global Reach; Expanding Portfolio with LTE Security Gateways
Mavenir Systems® (NYSE:MVNR), a leading provider of software-based networking solutions, today announced that it has signed a definitive agreement to acquire Stoke, Inc., subject to customary closing conditions.
Stoke provides mobile gateway solutions to the broadband network industry and has been a market leader in deployed LTE Security Gateways. Through this acquisition, Mavenir will achieve three key objectives:
Stoke has a strong customer and partner base in key markets in APAC and EMEA. Specifically, Stoke counts NTT DOCOMO (NYSE:DCM) and Softbank (Tokyo: 9984) among its current customers and has built relationships with well-regarded integrators including Net One Systems (OTC: NONEY), Macnica Networks (Tokyo: 7631) in Japan and Samsung in South Korea. In addition to leveraging these new channels for its portfolio of 4G LTE solutions, Mavenir is rounding out its suite of security solutions with Stoke’s Security Gateway which will be distributed through existing channels to Mavenir’s global customer base.
“Upon completion of this acquisition, Mavenir will be expanding our portfolio and enhancing our expertise in security technologies at a critical juncture in 4G LTE network evolution,” said Pardeep Kohli, President and Chief Executive Officer, Mavenir Systems. “The transition to all-IP requires robust, high-performance security solutions at the access and interconnect points to 4G LTE networks. Combined with our Session Border Controller (SBC) and evolved Packet Data Gateway (ePDG), Stoke’s LTE Security Gateway (SEG) enables Mavenir to deliver a complete, secure, end to end solution to our customers globally.”
“We are very pleased to become part of Mavenir Systems and leverage the synergies of our strong customer and channel relationships. The Stoke product suite is a complementary addition to Mavenir’s technology,” said Vikash Varma, President and CEO, Stoke. “We share the same innovative approach to solving network problems for top Carriers.”
“Additionally, this acquisition expedites a key part of our growth strategy by providing penetration to the Japanese and South Korean markets, and strategically positions us in the emerging small cells market,” added Kohli. “Stoke brings a strong team that understands the global security gateway market. We are delighted to have them join the Mavenir team.”