AFRICA – Liquid Intelligent Technologies, a pan-African technology group and a business of Cassava Technologies, has confirmed that it will acquire Telrad, an Israeli-based technology company, for an undisclosed sum.
Telrad delivers technology products and services to global business and governments, offering solutions across a range of business areas including networking, cyber security, cloud infrastructure, data centres, information technology, geoinformatics, and education.
“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,” said Nic Rudnick, group chief executive officer, Liquid Intelligent Technologies.
In addition, Telrad’s products and extensive R&D capabilities, comprised of two dedicated research and development (R&D) centres, will complement Liquids’ existing portfolio and support the company’s long-term growth strategy.
Specifically, the acquisition will strengthen Liquid’s B2B product segments and its geographic reach, using Telrad’s presence in 13 countries across the Middle East, South America, the US, Eastern Europe and Asia.
“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,” said Moti Elmaliach, chief executive officer, Telrad.
“Many leading global technology companies have chosen Liquid Intelligent Technologies as their trusted partner to accelerate digital transformation and we look forward to delivering on this shared ambition together.”
The deal is subject to standard closing conditions and Telrad shareholder approval.