US telecom software provider Mavenir has restructured its finances through a recapitalization deal with its primary backer, Siris, and is pulling back from its earlier push into Open RAN hardware.
In a move to address long-standing concerns over its financial stability, Mavenir has eliminated approximately $1.3 billion in debt through a recapitalization agreement with current lenders, most notably Siris. While the specifics are undisclosed, the arrangement strongly suggests a debt-for-equity swap. Siris, which already held a controlling interest in Mavenir, now appears to have further solidified its ownership, potentially leaving little equity for other stakeholders.
Alongside the debt relief, Mavenir secured an additional $300 million in fresh financing. This funding is likely aimed at easing short-term cash flow constraints and positioning the company for long-term stability.
Mavenir CEO Pardeep Kohli stated the company will now sharpen its focus on delivering AI-native telecom software solutions, emphasizing profitable growth in both its core offerings and Open RAN software. Executive Chairman Hubert de Pesquidoux echoed the sentiment, noting the improved capital structure would better support innovation and strategy execution.
Despite the positive framing, Mavenir is clearly scaling back its involvement in the hardware side of Open RAN. The company now intends to concentrate solely on 4G and 5G software within the Open RAN space. A spokesperson acknowledged that market conditions, particularly in Asia and the US, have made Open RAN adoption difficult for smaller entrants.
While Mavenir hasn’t abandoned Open RAN entirely, its pivot suggests that delivering competitive radio hardware proved too challenging. Instead, the company is shifting toward AI-based network intelligence services to maintain relevance in the evolving telecom landscape. Siris’s continued investment signals belief in this more focused direction.