Liquid Intelligent Technologies (Liquid), a business of Cassava Technologies (Cassava), today announced the finalisation of its 100% acquisition and delisting of Telrad, an Israeli-based technology company (TASE: ILA).
Telrad has a significant presence in 13 countries across the Middle East, South America, United States, Eastern Europe, Asia and provides high-quality technology products and services for global businesses and governments.
The company offers innovative technology solutions, including networking, cloud infrastructure, information technology, geoinformatics and cybersecurity.
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.
With a wholly-owned, open-access fibre network spanning 100,000 km, Liquid provides both local and regional connectivity. The terrestrial infrastructure is augmented by a vast network of subsea cables complementing Liquid’s international connectivity footprint.
Liquid’s cloud solutions include networking, cloud voice, cloud applications as well as cloud platforms, whilst its cyber security services include cyber defence, secure access and secure data.
According to Nic Rudnick, Deputy Chairman, Liquid Intelligent Technologies, “Earlier this year, Liquid had entered into a definitive agreement to acquire Telrad, and I am pleased that we have concluded this transaction. We look forward to the seamless integration of Telrad’s strong R&D programme and technology solutions in cyber security, data centres and wireless access technology with Liquid’s existing portfolio of solutions.
“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,” he added.
Mr Moti Elmaliach, Telrad’s Chief Executive Officer said, “Telrad has an incredibly strong track record of success and rich history of innovation.”
He added “We are excited to join forces and 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 Elmaliach, “and an opportunity to innovate and grow exponentially in both the Israeli and international markets”.
Rudnick added, “Telrad will continue to be led by Mr Moti Elmaliach as CEO, who will also be appointed to the group’s executive team and will be part of the international growth of the Liquid business globally”.
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.