Casa Systems Inc shares rose 64% after the company stated that Verizon Communications Inc bought $40M of shares, according to a news release by Casa Systems on Monday.

  • Casa, which provides physical, virtual, and cloud-native 5th-generation telecommunications infrastructure, stated that it has also received a multi-year contract from Verizon to offer its 5G Core Network Functions.
  • Jerry Guo, Casa Chief Executive, stated that the cloud-native approach is at the core of today’s agreement and represents an important aspect of the telecommunications industry.
  • Casa Systems is a critical member of the 5G and MEC ecosystem, offering flexible applications to allow the company to scale up operations for customers’ real-time solutions.

Kyle Malady, President of Global Networks and Technology at Verizon, stated they have confidence in Casa as a cloud-native technology partner and are set to scale the power of 5G and MEC in the future. CASA up +63.50%, VZ down -0.056%