Liquid Intelligent Technologies, a Cassava Technologies company, has announced it has entered into a definitive agreement to acquire Israel-based technology firm Telrad.
Commenting on the acquisition, Nic Rudnick, Group Chief Executive Officer of Liquid Intelligent Technologies said, “Telrad’s advanced proprietary technology in areas including cyber security, data centres and wireless access technology will be a great asset to Liquid’s digital solutions. Together, we will be able to leverage our pan-continental infrastructure to scale innovative, technology solutions and expand the breadth of our digital services offerings across and beyond Africa.”
Telrad provides and maintains high tech products and services for global business and governments, explained a statement. The company develops technology solutions across business areas including networking, cyber security, cloud infrastructure, data centres, information technology, geoinformatics, and education.
The transaction brings together Telrad’s differentiated technology solutions with its own integrated platform of digital infrastructure and services, added the statement.
Telrad’s technology solutions and extensive research and development (R and D) capabilities, including two dedicated R and D centres, will complement Liquid’s offerings and support its long-term growth strategy.
The acquisition will strengthen Liquid’s B2B product segments and its geographic reach, leveraging Telrad’s presence in 13 countries across the Middle East, South America, United States, Eastern Europe and Asia, the statement said.
Telrad Chief Executive Officer, Moti Elmaliach, said: “Liquid has an incredibly strong track record of success and a rich history of innovation. We are excited to join forces and to leverage Liquid’s expertise across the full technology value chain, from the subsea cable to the last mile. This is an exciting step for Telrad, our team and the customers we serve.”
The Liquid Intelligent Technologies and Telrad transaction is subject to customary closing conditions, including Telrad shareholder approval.