Verizon, an American multinational telecommunications conglomerate, agreed to acquire a 9.9% stake in Casa Systems, a firm engaged in providing a suite of software-centric infrastructure solutions, for $40m. “This announcement is an important milestone for our 5G Core and Security Gateway technology, as well as the growth potential of our business. Our cloud-native approach is at the foundation of today’s agreement and represents an important pivot in the telecommunications industry. Casa Systems is excited to be at the forefront of this shift towards a cutting edge, cloud-based strategy through this partnership with Verizon. This agreement validates our leadership in 5G Core and MEC and positions Casa Systems as a key champion for cloud-native 5G infrastructure in the United States," Jerry Guo, Casa Systems President and CEO.