Vecima Named Backup Bidder for Casa Systems’ Cable Business

Vecima was designated the back-up bidder at an auction to acquire the Cable Business assets of Casa Systems, with Vecima’s top bid at $44.95 million.

• Approval of the sale to the winning bidder is subject to approval by the US Bankruptcy Court for the District of Delaware at a hearing next week
• Vecima decided at the end of the auction not to increase its bid when the proposed price was no longer reasonably supported by its valuation of the assets

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Lara Sanli in New ...