African technology infrastructure and services provider Liquid Intelligent Technologies, a business of Cassava Technologies, on Tuesday, announced the finalisation of its 100 per cent acquisition and delisting of Telrad, an Israeli-based technology company.
Telrad has a presence in 13 countries across the Middle East, South America, the United States, Eastern Europe, and Asia. It provides technology products and services for global businesses and governments. The company offers innovative technology solutions, including networking, cloud infrastructure, information technology, geoinformatics and cybersecurity. On the other hand, Liquid has established itself as the leading provider of pan-African digital infrastructure with an extensive fibre broadband network covering over 100,000 km.
In a statement sent to newsrooms, Nic Rudnick, Deputy Chairman, Liquid Intelligent Technologies said, “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”.
Moti Elmaliach, Telrad’s CEO said, “Telrad has an incredibly strong track record of success and rich history of innovation. 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”.
Cassava Technologies 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.