CommScope Selected as Highest and Best Bid in Auction to Acquire Cable Business Assets of Casa Systems

Claremont, NC: CommScope (NASDAQ: COMM), a global leader in network connectivity, was selected by Casa Systems, Inc. (“Casa”), as the highest and best bidder to acquire Casa’s Cable Business assets.

A purchase agreement was entered into on May 29, 2024, between CommScope and Casa Systems, Inc. after CommScope entered the winning bid of $45,100,000 to purchase the Cable Business assets through an auction process under section 363 of the Bankruptcy Code. A sale hearing is scheduled for June 4, 2024, and the transaction is expected to close June 6, 2024.

The strategic accretive acquisition strengthens CommScope’s Access Network Solutions leading market position, including enhancing its virtual CMTS and PON product offerings. The economics of the deal are supported by significant synergies. “As a leader in the cable industry, we are quite pleased by the opportunity to acquire Casa’s cloud-native network solutions,” stated Chuck Treadway, CEO, CommScope. He continued, “Adding Casa’s technology to our portfolio will allow us to provide a seamless transition for our combined customer base that utilize 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.”