LONDON – Liquid Intelligent Technologies ("Liquid"), a pan-African technology group, today announced that it has entered into a definitive agreement to acquire Telrad (TASE: ILA), an Israeli-based technology company.
Telrad provides and maintains high quality technology products and services for global business and governments. The company develops innovative technology solutions across business areas including networking, cyber security, cloud infrastructure, data centres, information technology, geoinformatics, and education.
This transaction brings together Telrad's differentiated technology solutions with those of Liquids' unique, integrated platform of digital infrastructure and services. Telrad's technology solutions and extensive R&D capabilities, including two dedicated R&D centers, will complement Liquids' 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.
Nic Rudnick, Group Chief Executive Officer of Liquid, 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 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."
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 transaction is subject to customary closing conditions, including Telrad shareholder approval.