- Casa Systems (NASDAQ:CASA) said it has initiated a court-supervised process that is intended to achieve value-maximizing sales of its businesses.
- The firm said it has entered into an asset purchase agreement to sell its 5G Mobile Core and RAN businesses.
- The company also entered into an initial bid on its assets to sell its cable business to an affiliate of Vecima Networks.
- In connection with the sale process, the company entered a Restructuring Support Agreement with more than 98% of its senior secured lenders, which will allow the firm to use its cash on hand and proceeds of the anticipated Cloud/RAN Sale to fund its operations and Chapter 11 process.
