Australian telco equipment manufacturer and local tech success story NetComm will relinquish its 37-year-old business name after a $161 million takeover by US-based Casa Systems was finalised on Monday.

The move has stoked fears internally about further restructuring at the company, which employs about 300 people in Australia. But NetComm's interim chief executive Steve Collins downplayed chances of job cuts to rank and file workers under the new ownership.

Outgoing NetComm chairman Justin Milne. Credit:Dominic Lorrimer

"At the very top of the company there will probably be a few positions where you don't need two of [them] in kind of management," he said. "But in terms of the majority of the workforce and people who are doing sales and development and all the work, that's what Casa is buying. So there are no changes envisaged there."

NetComm, which was listed on the ASX, was established in 1982 by a small team that developed Australia's first dial-up modem. It quietly advanced to become a data communications company that supplied technology to the National Broadband Network (NBN) as well as to local telco operators such as Exetel, TPG, Telstra and Optus.