Liquid Intelligent Technologies (“Liquid”), a pan-African technology group, said today that it had reached an agreement to buy Telrad (TASE: ILA), an Israeli-based technology business.
Telrad develops and supports high-quality technological products and services for worldwide corporations and governments. The company creates cutting-edge technology solutions for networking, cyber security, cloud infrastructure, data centers, information technology, geoinformatics, and education.
Read Also : Sierra Leone: Orange New Points Up Campaign Will Distribute Millions
In this acquisition, Telrad’s differentiated technology solutions are combined with Telrad’s unique, integrated digital infrastructure and services platform. Telrad’s technology solutions and significant R&D capabilities, which include two dedicated R&D facilities, will complement Liquids’ services and support the company’s long-term growth strategy.
What The Acquisition Means for Liquid
The acquisition will expand Liquid’s B2B product offerings and global reach by using Telrad’s presence in 13 countries across the Middle East, South America, the United States, Eastern Europe, and Asia.
“Telrad’s advanced patented technology in cyber security, data centres, and wireless access technologies will complement Liquid’s digital solutions,” stated Nic Rudnick, Group Chief Executive Officer of Liquid. We will be able to harness our pan-continental infrastructure to grow breakthrough technological solutions and broaden the breadth of our digital service offerings across and beyond Africa if we work together.
Telrad View
Moti Elmaliach, CEO of Telrad, stated, “Liquid has a solid track record of success and a rich history of innovation.” We are thrilled to collaborate and leverage Liquid’s experience across the technology value chain, from subsea cable to the last mile. This is a big step forward for Telrad, our staff, and the consumers we serve. “
Read Also : Mobile Money Agents Association of Ghana Now Supports E-Levy
Many of the world’s leading technology firms have chosen Liquid Intelligent Technologies as their trusted partner to accelerate digital transformation, and we look forward to working together to achieve this shared goal. “
The transaction is subject to the usual closing conditions, including approval by Telrad shareholders.