Casa Systems rises on investment from Verizon
18/04/2022 16:39
** Telecom-focussed digital infrastructure firm's CASA.O
shares register their best day since listing on news of a
$40-mln investment and a multi-year contact from Verizon
Communications VZ.N
** Shares rally over 60% to $6.23
** VZ will take 9.9% stake on investment of $40 mln in co's
common stock
** Per the terms, CASA will provide its 5G core ntwork
functions to VZ, helping the company's public mobile edge
compute (MEC) service offering
** CASA stock is currently trading at its highest since
November
** Up to Thursday's close, stock had fallen 31.2% YTD
(Reporting by Yuvraj Malik)
((yuvraj.malik@thomsonreuters.com))
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