Siris secures debt financing for Xura buyout; Xura to refinance loans

By Marisa Wong

Morgantown, W.Va., May 23 – Siris Capital Group LLC said it has secured committed debt financing for its planned acquisition of Xura, Inc.

Siris has secured debt financing from Cerberus Business Finance, LLC, along with equity financing from its own affiliates, according to an 8-K filing with the Securities and Exchange Commission.

The transaction is valued at about $643 million and is expected to close in the third quarter.

As part of the acquisition, Xura’s existing credit facility will be refinanced, according to a press release.

Xura is a Wakefield, Mass.-based provider of digital communications services. Siris is a New York private equity firm focused on investments in data, telecommunications, technology and technology-enabled business service companies.

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