UNITED STATES

 

 

SECURITIES AND EXCHANGE COMMISSION

 

 

Washington, D.C. 20549

 

 

SCHEDULE 13G

 

Under the Securities Exchange Act of 1934
(Original Filing)(1)

 

Sonus Networks, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

835916107

(CUSIP Number)

November 20, 2007

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

o

Rule 13d-1(b)

x

Rule 13d-1(c)

o

Rule 13d-1(d)

 

(1)The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

 

The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 



 

 

CUSIP No. 

 

 

1.

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only)

Sirios Capital Partners, L.P.

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

x

 

 

(b)

o

 

 

3.

SEC Use Only

 

 

4.

Citizenship or Place of Organization

Delaware

 

 

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power

0

 

6.

Shared Voting Power

473,120

 

7.

Sole Dispositive Power

0

 

8.

Shared Dispositive Power

473,120

 

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

473,120 shares

 

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  o

 

 

11.

Percent of Class Represented by Amount in Row (9)

0.18%

 

 

12.

Type of Reporting Person (See Instructions)

PN

 

 

2



 

 

CUSIP No. 

 

 

1.

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only)

Sirios Capital Partners II, L.P.

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

x

 

 

(b)

o

 

 

3.

SEC Use Only

 

 

4.

Citizenship or Place of Organization

Delaware

 

 

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power

0

 

6.

Shared Voting Power

2,335,275

 

7.

Sole Dispositive Power

0

 

8.

Shared Dispositive Power

2,335,275

 

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

2,335,275 shares

 

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  o

 

 

11.

Percent of Class Represented by Amount in Row (9)

0.87%

 

 

12.

Type of Reporting Person (See Instructions)

PN

 

 

3



 

 

CUSIP No. 

 

 

1.

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only)

Sirios/QP Partners, L.P.

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

x

 

 

(b)

o

 

 

3.

SEC Use Only

 

 

4.

Citizenship or Place of Organization

Cayman Islands

 

 

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power

0

 

6.

Shared Voting Power

4,261,900

 

7.

Sole Dispositive Power

0

 

8.

Shared Dispositive Power

4,261,900

 

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

4,261,900 shares

 

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  o

 

 

11.

Percent of Class Represented by Amount in Row (9)

1.59%

 

 

12.

Type of Reporting Person (See Instructions)

PN

 

 

4



 

 

CUSIP No. 

 

 

1.

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only)

Sirios Overseas Fund, Ltd.

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

x

 

 

(b)

o

 

 

3.

SEC Use Only

 

 

4.

Citizenship or Place of Organization

Cayman Islands

 

 

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power

0

 

6.

Shared Voting Power

5,113,405

 

7.

Sole Dispositive Power

0

 

8.

Shared Dispositive Power

5,113,405

 

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

5,113,405 shares

 

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  o

 

 

11.

Percent of Class Represented by Amount in Row (9)

1.91%

 

 

12.

Type of Reporting Person (See Instructions)

OO

 

 

5



 

 

CUSIP No. 

 

 

1.

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only)

Sirios Focus Partners, L.P.

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

x

 

 

(b)

o

 

 

3.

SEC Use Only

 

 

4.

Citizenship or Place of Organization

Cayman Islands

 

 

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power

0

 

6.

Shared Voting Power

913,260

 

7.

Sole Dispositive Power

0

 

8.

Shared Dispositive Power

913,260

 

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

913,260 shares

 

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  o

 

 

11.

Percent of Class Represented by Amount in Row (9)

0.34%

 

 

12.

Type of Reporting Person (See Instructions)

PN

 

 

6



 

 

CUSIP No. 

 

 

1.

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only)

Vitruvius SICAV

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

x

 

 

(b)

o

 

 

3.

SEC Use Only

 

 

4.

Citizenship or Place of Organization

Luxembourg

 

 

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power

0

 

6.

Shared Voting Power

876,136

 

7.

Sole Dispositive Power

0

 

8.

Shared Dispositive Power

876,136

 

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

876,136 shares

 

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  o

 

 

11.

Percent of Class Represented by Amount in Row (9)

0.33%

 

 

12.

Type of Reporting Person (See Instructions)

OO

 

 

7



 

 

CUSIP No. 

 

 

1.

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only)

Sirios Capital Management, L.P.

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

x

 

 

(b)

o

 

 

3.

SEC Use Only

 

 

4.

Citizenship or Place of Organization

Delaware

 

 

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power

0

 

6.

Shared Voting Power

13,973,096

 

7.

Sole Dispositive Power

0

 

8.

Shared Dispositive Power

13,973,096

 

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

13,973,096 shares

 

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  o

 

 

11.

Percent of Class Represented by Amount in Row (9)

5.21%

 

 

12.

Type of Reporting Person (See Instructions)

IA, PN

 

 

8



 

 

CUSIP No. 

 

 

1.

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only)

Sirios Associates, L.L.C.

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

x

 

 

(b)

o

 

 

3.

SEC Use Only

 

 

4.

Citizenship or Place of Organization

Delaware

 

 

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power

0

 

6.

Shared Voting Power

13,973,096

 

7.

Sole Dispositive Power

0

 

8.

Shared Dispositive Power

13,973,096

 

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

13,973,096 shares

 

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  o

 

 

11.

Percent of Class Represented by Amount in Row (9)

5.21%

 

 

12.

Type of Reporting Person (See Instructions)

OO

 

 

9



 

 

CUSIP No. 

 

 

1.

Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only)

John F. Brennan, Jr.

 

 

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

 

 

(a)

x

 

 

(b)

o

 

 

3.

SEC Use Only

 

 

4.

Citizenship or Place of Organization

U.S.A.

 

 

 

Number of
Shares
Beneficially
Owned by
Each
Reporting
Person With

5.

Sole Voting Power

0

 

6.

Shared Voting Power

13,973,096

 

7.

Sole Dispositive Power

0

 

8.

Shared Dispositive Power

13,973,096

 

 

9.

Aggregate Amount Beneficially Owned by Each Reporting Person

13,973,096 shares

 

 

10.

Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)  o

 

 

11.

Percent of Class Represented by Amount in Row (9)

5.21%

 

 

12.

Type of Reporting Person (See Instructions)

IN

 

 

10



 

Item 1.

 

(a)

Name of Issuer

The name of the issuer is Sonus Networks, Inc. (the “Company”).

 

(b)

Address of Issuer’s Principal Executive Offices

The Company’s principal executive offices are located at 7 Technology Park Drive, Westford, Massachusetts 01886.

 

Item 2.

 

(a)

Name of Person Filing

This statement is filed by:

 

 

 

(i)

Sirios Capital Partners, L.P., a Delaware limited partnership (“SCP I”), with respect to the shares of Common Stock directly owned by it;

 

 

 

(ii)

Sirios Capital Partners II, L.P., a Delaware limited partnership (“SCP II”), with respect to the shares of Common Stock directly owned by it;

 

 

 

(iii)

Sirios/QP Partners, L.P., a Cayman Islands exempted limited partnership (“SQP”), with respect to the shares of Common Stock directly owned by it;

 

 

 

(iv)

Sirios Overseas Fund, Ltd., a Cayman Islands company (“SOF”), with respect to the shares of Common Stock directly owned by it;

 

 

 

(v)

Sirios Focus Partners, L.P., a Cayman Islands exempted limited partnership (“SFP”), with respect to the shares of Common Stock directly owned by it;

 

 

 

(vi)

Vitruvius SICAV, a Société d’Investissement à Capital Variable organized under the laws of Luxembourg (“VS”), with respect to the shares of Common Stock directly owned by it;

 

 

 

(vii)

Sirios Capital Management, L.P., a Delaware limited partnership (“SCM”), which serves as investment manager to SCP I, SCP II, SQP, SOF, SFP, and VS, with respect to the shares of Common Stock directly owned by SCP I, SCP II, SQP, SOF, SFP, and VS;

 

 

 

(viii)

Sirios Associates, L.L.C., a Delaware limited liability company (“SA”), which is the general partner of SCM, with respect to the shares of Common Stock directly owned by SCP I, SCP II, SQP, SOF, SFP, and VS; and

 

 

 

(ix)

John F. Brennan, Jr., the sole managing member of SA, with respect to the shares of Common Stock directly owned by SCP I, SCP II, SQP, SOF, SFP, and VS.

 

 

The foregoing persons are hereinafter sometimes collectively referred to as the “Reporting Persons.” Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party.

 

11



 

 

(b)

Address of Principal Business Office or, if none, Residence

The address of the business office of SCP I, SCP II, SCM, SA, and Mr. Brennan is One International Place, Boston, Massachusetts 02110-2649.  The address of the registered office of SQP, SOF, and SFP is c/o Goldman Sachs (Cayman) Trust, Limited, 2nd Floor, Harbour Centre, P.O. Box 896, George Town, Grand Cayman, KY1•1103, Cayman Islands.  The address of the registered office of VS is 11 rue Aldringen, L-1118 Luxembourg.

 

(c)

Citizenship

SCP I, SCP II, and SCM are limited partnerships organized under the laws of the State of Delaware.  SQP and SFP are exempted limited partnerships organized under the laws of the Cayman Islands.  SOF is a company organized under the laws of the Cayman Islands.  VS is a “Société d’Investissement à Capital Variable” organized under the laws of Luxembourg.  SA is a limited liability company organized under the laws of the State of Delaware.  Mr. Brennan is a United States citizen.

 

(d)

Title of Class of Securities

Common Stock, par value $0.001 per share.

 

(e)

CUSIP Number

CUSIP No. 835916107

 

Item 3.

If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

 

(a)

o

Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

 

(b)

o

Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

 

(c)

o

Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

 

(d)

o

Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8).

 

(e)

o

An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);

 

(f)

o

An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);

 

(g)

o

A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);

 

(h)

o

A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

 

(i)

o

A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

 

(j)

o

Group, in accordance with §240.13d-1(b)(1)(ii)(J).

 

 

12



 

Item 4.

Ownership

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

As of November 20, 2007, the Reporting Persons may be deemed to beneficially own 5.21% of the outstanding shares of Common Stock of the Company.  The percentages used herein are calculated based upon the 268,357,205 shares of Common Stock issued and outstanding at November 2, 2007, as reflected in the Company’s Form 10-Q for the fiscal quarterly period ended September 30, 2007.

 

(a)

Amount beneficially owned:   

A.      Sirios Capital Partners, L.P.:   473,120

B.      Sirios Capital Partners II, L.P.:   2,335,275

C.      Sirios/QP Partners, L.P.:    4,261,900

D.      Sirios Overseas Fund, Ltd.:   5,113,405

E.      Sirios Focus Partners, L.P.:   913,260

F.      Vitruvius SICAV:  876,136

G.      Sirios Capital Management, L.P.:   13,973,096

H.     Sirios Associates, L.L.C.:   13,973,096

I.     John F. Brennan, Jr.:   13,973,096

 

(b)

Percent of class:   

A.      Sirios Capital Partners, L.P.:   0.18%

B.      Sirios Capital Partners II, L.P.:   0.87%

C.      Sirios/QP Partners, L.P.:   1.59%

D.      Sirios Overseas Fund, Ltd.:   1.91%

E.      Sirios Focus Partners, L.P.:   0.34%

F.      Vitruvius SICAV:   0.33%

G.      Sirios Capital Management, L.P.:   5.21%

H.     Sirios Associates, L.L.C.:   5.21%

I.     John F. Brennan, Jr.:   5.21%

 

(c)

Number of shares as to which the person has:

 

 

 

(i)

Sole power to vote or to direct the vote   

A.      Sirios Capital Partners, L.P.:   -0-

B.      Sirios Capital Partners II, L.P.:   -0-

C.      Sirios/QP Partners, L.P.:   -0-

D.      Sirios Overseas Fund, Ltd.:   -0-

E.      Sirios Focus Partners, L.P.:   -0-

F.      Vitruvius SICAV:    -0-

G.      Sirios Capital Management, L.P.:   -0-

H.     Sirios Associates, L.L.C.:   -0-

I.     John F. Brennan, Jr.:   -0-

 

13



 

 

 

 

(ii)

Shared power to vote or to direct the vote    

A.      Sirios Capital Partners, L.P.:   473,120

B.      Sirios Capital Partners II, L.P.:   2,335,275

C.      Sirios/QP Partners, L.P.:    4,261,900

D.      Sirios Overseas Fund, Ltd.:   5,113,405

E.      Sirios Focus Partners, L.P.:   913,260

F.      Vitruvius SICAV:  876,136

G.      Sirios Capital Management, L.P.:   13,973,096

H.      Sirios Associates, L.L.C.:   13,973,096

I.      John F. Brennan, Jr.:   13,973,096

 

 

(iii)

Sole power to dispose or to direct the disposition of   

A.     Sirios Capital Partners, L.P.:   -0-

B.      Sirios Capital Partners II, L.P.:   -0-

C.      Sirios/QP Partners, L.P.:   -0-

D.      Sirios Overseas Fund, Ltd.:   -0-

E.      Sirios Focus Partners, L.P.:  -0-

F.      Vitruvius SICAV:    -0-

G.      Sirios Capital Management, L.P.:   -0-

H.     Sirios Associates, L.L.C.:   -0-

I.     John F. Brennan, Jr.:   -0-

 

 

(iv)

Shared power to dispose or to direct the disposition of   

A.      Sirios Capital Partners, L.P.:   473,120

B.      Sirios Capital Partners II, L.P.:   2,335,275

C.      Sirios/QP Partners, L.P.:    4,261,900

D.      Sirios Overseas Fund, Ltd.:   5,113,405

E.      Sirios Focus Partners, L.P.:   913,260

F.       Vitruvius SICAV:  876,136

G.       Sirios Capital Management, L.P.:   13,973,096

H.      Sirios Associates, L.L.C.:   13,973,096

I.      John F. Brennan, Jr.:   13,973,096

 

Item 5.

Ownership of Five Percent or Less of a Class

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following   o.

 

Item 6.

Ownership of More than Five Percent on Behalf of Another Person

Not Applicable

 

 

14



 

 

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company

Not Applicable

 

Item 8.

Identification and Classification of Members of the Group

Not Applicable

 

Item 9.

Notice of Dissolution of Group

Not Applicable

 

Item 10.

Certification

Each of the Reporting Persons hereby makes the following certification:

          By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

 

 

15



Signature

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

EXECUTED as a sealed instrument this 27th day of November, 2007.

 

 

 

 

/s/ John F. Brennan, Jr.

 

John F. Brennan, Jr., individually, and as sole managing

 

member of Sirios Associates, L.L.C., the general partner of

 

Sirios Capital Management, L.P., the investment manager of

 

Sirios Capital Partners, L.P., Sirios Capital Partners II, L.P.,

 

Sirios/QP Partners, L.P., Sirios Overseas Fund, Ltd., Sirios

 

Focus Partners, L.P., and Vitruvius SICAV.

 

 

16



 

Exhibit 1

 

AGREEMENT

Each of the undersigned, pursuant to Rule 13d-1(k)(l) under the Securities Exchange Act of 1934, as amended, hereby agrees that only one statement containing the information required by Schedule 13G need be filed with respect to the ownership by each of the undersigned of the shares of Common Stock of Sonus Networks, Inc., and that the Schedule 13G to which this Agreement is appended as Exhibit 1 is to be filed with the Securities and Exchange Commission on behalf of each of the undersigned on or about the date hereof.

EXECUTED as a sealed instrument this 27th day of November, 2007.

 

 

 /s/ John F. Brennan, Jr.

 

John F. Brennan, Jr., individually, and as sole managing
member of Sirios Associates, L.L.C., the general partner of
Sirios Capital Management, L.P., the investment manager of
Sirios Capital Partners, L.P., Sirios Capital Partners II, L.P.,
Sirios/QP Partners, L.P., Sirios Overseas Fund, Ltd., Sirios
Focus Partners, L.P., and Vitruvius SICAV.

 

 

17