Verizon Communications will make an investment of approximately $40 million in Casa Systems for 9.9 percent stake.
Casa Systems is a leading provider of physical and cloud-native infrastructure technology solutions for mobile, cable and fixed networks.
Casa Systems also won a multi-year purchase contract from Verizon. Casa Systems will provide its 5G Core Network Functions to Verizon, helping power the company’s public Mobile Edge Compute (MEC) service offering.
“This announcement is an important milestone for our 5G Core and Security Gateway technology, as well as the growth potential of our business,” said Jerry Guo, President and CEO of Casa Systems. “Our cloud-native approach is at the foundation of today’s agreement and represents an important pivot in the telecommunications industry.”
Kyle Malady, President, Global Networks and Technology at Verizon, said: “We have confidence in Casa as a cloud-native technology partner and look forward to joint innovation as we scale the power of 5G and MEC in the years to come.”