11:53 AM EDT, 04/03/2024 (MT Newswires) -- Lumine Group ( LMGIF ) , an acquirer of communications and media software businesses, on Wednesday said it entered into an asset purchase agreement to acquire the Axyom Cloud Native 5G Core Software & RAN Assets from Nasdaq-listed Casa Systems ( CASA ) for an undisclosed price.

Casa Systems ( CASA ) intends to facilitate the sale of its businesses, including the assets, through a Chapter 11 process. This is Lumine Group's ( LMGIF ) 14th corporate carve-out that it has completed and set up in the communications and media space.

The assets provide cloud native 5G network functions (CNFs) in the core and access networks. According to the statement, Casa Systems ( CASA ) solutions can be found in 70+ countries and 475+ customers across the globe, counting Verizon as its largest Wireless 5G software and Femto customer.

Lumine shares were last seen up C$1.59 to C$35.99 on the TSX Venture Exchange.

Price: 35.99, Change: +1.56, Percent Change: +4.53