Casa Systems Begins Chapter 11 Sale Process for Businesses

Casa Systems voluntarily filed for Chapter 11 bankruptcy in Delaware and initiated a court-supervised process to sell assets.

• Agreed to sell its 5G Mobile Core and RAN businesses to Lumine Group; also in stalking-horse asset purchase agreement to sell its Cable business to Vecima Networks
  • In a separate release, Vecima said it intends to buy the Cable unit for $20 million
• Entered into a Restructuring Support Agreement with more than 98% of its senior secured lenders to allow the company to use its cash on hand and proceeds of asset sales to fund its operations and Chapter 11 process ...