Mavenir Systems agreed to acquire Stoke, a developer of mobile gateways, for $2.9 million in cash plus the assumption of approximately $1.9 million of indebtedness..
Stoke, which is based in Santa Clara, California, supplies LTE Security Gateways. Its customers include NTT Docomo and Softbank. Stoke also has relationships with integrators including Net One Systems and Macnica Networks in Japan and Samsung in South Korea.
Mavenir said the acquisition will help expand its global reach, especially in Japan and South Korea. The LTE Security Gateway adds to its product portfolio.
"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," stated Pardeep Kohli, President and Chief Executive Officer, Mavenir Systems.
- In 2010, Stoke announced that DOCOMO was deploying its SSX-3000 gateway to aggregate LTE eNodeB radio transmission base stations. Functional verification of the Stoke SSX-3000 as well as its proposal and sale to DOCOMO was handled by Net One Systems, Stoke's distributor in Japan.
- In January 2011, Stoke raised $17 million in Series E funding for its mobile broadband gateways. This funding round was led by new investor Focus Ventures, participation from existing investors included DAG Ventures, Integral Capital Partners, Pilot House Ventures, Net One Systems Co., DoCoMo Capital Ltd, Mobile Internet Capital, Inc, Sequoia Capital, and Kleiner Perkins Caufield & Byers. This brought Stoke's total funding to approximately $92 million.
