Communications architecture technology firm Casa Systems announced that a multi-year purchase contract with Verizon for $40 million has given the telecommunications giant a 9.9% ownership stake in the company, ComputerWeekly
Casa Systems markets itself as a provider of cloud-native and physical infrastructure technology for cable, mobile and fixed network applications. Its offerings enable swifter 5G transformations for customers and provides them with high-level bandwidths for all access types.
The transaction is expected to increase Verizon's position in the US 5G market by improving its public mobile edge computing service offering, as Casa Systems is expected to provide the company with its 5G core network functions.
Verizon's public MEC transfers computing resources onto cloud servers at the network edge while providing its users with a dedicated on-premise infrastructure to ensure low latency, enhanced network security
and greater customization.
"This announcement is an important milestone for our 5G Core and Security Gateway technology, as well as the growth potential of our business," said Casa Systems President and CEO Jerry Guo.