Siris Capital Group LLC agreed to buy Xura Inc. (Nasdaq: MESG) for $643 million in cash. The purchase price represents a 14.8 percent premium over Xura’s May 20 closing price of $20.98. The target was trading about 17 percent higher during mid-day trading on May 23.
Xura, headquarted in Wakefield, Massachusetts, makes cloud-based software for mobile messaging, voicemails, and messaging security. The target, formerly known as Comverse, works with communication service providers and business organizations.