Casa Systems gets approval of auction procedures for Cloud/RAN assets

By Sarah Lizee

Olympia, Wash., April 25 – Casa Systems, Inc. received approval of auction procedures for some of its assets, according to an order filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

As a reminder, the company had initially entered into a $15 million asset purchase agreement to sell its 5G Mobile Core and RAN businesses, which include its Axyom Cloud Native 5G Core Software & RAN Assets, to Lumine Group.

However, Casa recently received an $18 million bid for those same assets from Skyvera US Holdco, LLC. Casa has chosen Skyvera’s bid to be the starting bid at an auction, if required.

If both Skyvera and Lumine wanted to participate, the auction was to be held on April 25.

The minimum overbid was set at $100,000.

Casa is a Delaware-incorporated cloud computing and broadband networking company with operations in over 70 countries. The company filed bankruptcy on April 3 under Chapter 11 case number 24-10695.

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