Africa’s Liquid Intelligent Technologies (Liquid) has today announced the finalisation of its 100% acquisition and delisting of Israeli technology company Telrad. Telrad will now be part of Liquid, and its greater parent the Cassava Technologies group. Liquid had entered an agreement to purchase Telrad “earlier this year.”
According to the announcement, Telrad already has a significant presence in 13 countries across the Middle East, South America, the United States, Eastern Europe, and Asia. The company provides innovative technology solutions, including networking, cloud infrastructure, information technology, geoinformatics and cybersecurity for global businesses and governments.
Liquid has a unique ecosystem of intelligent technologies which bring high-speed and reliable cross-border connectivity, colocation, cloud, cybersecurity and digital services to mobile carriers and blue-chip enterprises.
According to Nic Rudnick, Deputy Chairman of Liquid Intelligent Technologies, the company will seek to leverage Telrad’s “strong” R&D programme with a keen focus on cybersecurity solutions, data centres and wireless access technology.
“Liquid and Telrad share similar ideologies of empowering customers through cost-effective connectivity and technology solutions. Together we will continue to digitally transform businesses globally,” added Rudnick.
“We are excited to join forces and to leverage Telrad’s expertise across the full technology value chain along with that of Liquid and the wider Cassava group. This is an exciting step for Telrad,” said Moti Elmaliach, Telrad’s CEO.
Elmaliach notes the acquisition as an opportunity to “innovate and grow exponentially in both the Israeli and international markets”.
Rudnick added that Elmaliach will continue to lead Telrad as its CEO, who will also be appointed to Cassava’s executive team.
Cassava was founded by African entrepreneur, Strive Masiyiwa. The group’s Executive Chairman, Masiyiwa also serves on several international boards including Unilever Plc, Netflix, the Global Advisory Board for Bank of America, the Bill and Melinda Gates Foundation, and is also a longstanding board member of the United States Holocaust Museum’s Committee on Conscience.