CommScope has been chosen as the highest and best bidder to acquire Casa System's cable business assets.
The company has beaten Vecima Networks to the assets after it entered the bidding with an offer of $45.1 million.
Vecima had previously bid $44.95 million but is now the designated back-up bidder.
In April, communications equipment company Casa Systems agreed to sell multiple assets after the company filed for voluntary Chapter 11 bankruptcy in the US Bankruptcy Court for the District of Delaware.
Assets up for grabs included 5G Core, RAN assets, and its cable business.
"Adding Casa’s technology to our portfolio will allow us to provide a seamless transition for our combined customer base that utilizes both integrated and virtual CMTS products," said Chuck Treadway, CEO, CommScope.
"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.”
A sale hearing is scheduled today (June 4), while the transaction is expected to close later this week.
Last month, Bankrupt Casa sold network firm Netcomm Wireless to fiber networking and cloud software provider DZS for $7 million.
Casa Systems acquired Netcomm in 2019 for $106 million, meaning the recent sale represents a significant hit for the cash-strapped company.
The company also agreed to sell its cloud-based assets to Lumine Group for $32.2 million.
