Vecima announces intent to acquire assets of Casa Systems’ Cable Business

Vecima Networks (VNWTF) announced it has entered into an asset purchase agreement to acquire the Cable Business assets of Casa Systems (CASA), and certain of Casa’s subsidiaries. Under the APA, Vecima, or its affiliates, will acquire substantially all the assets of Casa’s Cable Business for a purchase price of USD $20 million. To facilitate the sale, Casa and certain of its subsidiaries filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. If Vecima is successful, closing of the transaction is expected to occur at the beginning of June 2024. Closing of the transaction is subject to Bankruptcy Court approval and other customary closing conditions.