CommScope, a network connectivity company, announced that it was selected by Casa Systems (Casa) as the leading bidder to acquire Casa's Cable Business assets. A purchase agreement was entered into on May 29, 2024, between CommScope and Casa Systems after CommScope submitted the winning bid of USD 45.1 million to purchase the Cable Business assets through an auction process under the Bankruptcy Code.
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Strengthening CommScope's Position
CommScope stated that this acquisition strengthens its position in Access Network Solutions, including enhancing its virtual CMTS and PON product offerings.
"We are quite pleased with the opportunity to acquire Casa's cloud-native network solutions," CommScope said. "Adding Casa’s technology to our portfolio will allow us to provide a seamless transition for our combined customer base that utilises both integrated and virtual CMTS products."
"This transaction provides stability to Casa's customers while allowing CommScope to further grow our customer base as we enable customers to migrate to Distributed Access Architecture solutions on their own timeline," CommScope added.
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Transaction Timeline
According to CommScope, the sale hearing is scheduled for June 4, 2024, and the transaction is expected to close on June 6, 2024.
