Pan-African technology group, Liquid Intelligent Technologies, has entered into a definitive agreement to acquire Israeli-based technology company, Telrad.
Telrad leverages technology to provide innovative solutions to its global clientele focused on businesses such as networking, cybersecurity, cloud infrastructure, data centres, information technology, geoinformatics, and education.
The acquisition will bolster the emergence of Telrad’s differentiated technology solutions with 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 new development will also enhance the growth of Liquid’s B2B product segments and its geographic reach, holding up the advantage of 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.