Liquid looks to bolster presence with acquisition
Liquid Intelligent Technologies (LIT) has announced its intention to acquire Telrad, an Israel-based technology business with an extensive B2B offering, with presence in 13 countries.
Telrad develops technology solutions across business areas including networking, cyber security, cloud infrastructure, datacentres, IT, geoinformatics, and education.
A statement released to the media mentions no value to the transaction and that it is subject to customary closing conditions, including Telrad shareholder approval .
“This transaction brings together Telrad’s differentiated technology solutions with those of Liquids’ unique, integrated platform of digital infrastructure and services,” reads an excerpt from the statement.
The companies explain that Telrad’s strong R&D program and technology solution, including two dedicated R&D centres, will complement LIT’s owned infrastructure and digital solutions offerings.
“The acquisition will strengthen Liquid’s B2B product segments and its geographic reach,” the companies stated. “…, leveraging Telrad’s presence in 13 countries across the Middle East, South America, United States, Eastern Europe and Asia.”
Nic Rudnick, Group CEO 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 CEO 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.”