Lumine Group completed its $32.2 million deal to buy Casa Systems’ 5G core and RAN assets after fending off rival bidder Skyvera last week.

The company stated the wireless assets will operate as an independent, autonomous business unit within Lumine Group under the brand name Axyom.Core. The deal marks Lumine Group’s 14th corporate carve-out that it has completed and set up in the communications and media sector.

Lumine Group previously had an agreement in place to buy Casa Systems’ wireless assets for $15 million prior to Skyvera entering the bidding process. At the subsequent auction Lumine’s winning bid topped Skyvera’s $32 million offer.

Last week Bloomberg reported a US bankruptcy judge approved the sale due to Casa Systems possibly running out of funding this week ahead of furloughing employees.

Casa Systems has also entered into an agreement with fixed access network technology specialist Vecima Networks to sell its cable network technology business for $20 million.