Vecima Networks Inc. (TSX:VCM) agreed to acquire Cable Business assets of Casa Systems, Inc for $20 million on April 3, 2024. The consideration consists of $20 million in cash. As part of the consideration, $20 million was paid towards assets. The transaction is subject to Bankruptcy Court approval and other customary closing conditions and transaction expected to close at the beginning of June 2024. As of May 28, 2024 Vecima intends to use the net proceeds of the Financing to finance the acquisition of Cable Business assets of Casa Systems. If the transaction value of the Proposed Acquisition exceeds the proceeds of the Financing, the Company will fund the remainder of the transaction value with cash on hand and potential additional financing, as needed.
Vecima Networks Inc. (TSX:VCM) cancelled the acquisition of Cable Business assets of Casa Systems, Inc on June 7, 2024.