Casa Systems, Inc. announced that they have been awarded a multi-year purchase contract from Verizon. In addition, Verizon will make an investment of approximately $40M in Casa common stock, resulting in a 9.9% ownership stake. Under the terms of the commercial agreement, Casa Systems will provide its 5G Core Network Functions to Verizon, helping power the company's public Mobile Edge Compute (MEC) service offering.

Mobile Edge Compute (MEC) technology moves computing resources onto cloud servers at the network edge - as close as possible to places where data is generated.