Liquid Intelligent Technologies has today announced the finalisation of its 100 percent acquisition and delisting of Telrad.
For those unfamiliar with the latter it is an Israeli-based technology company with presence in 13 countries across the Middle East, South America, United Sates, Eastern Europe and Asia. The company specialises in networking, cloud infrastructure, information technology, geoinformatics and cybersecurity.
“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,” noted Nic Rudnick, deputy chairman of Liquid Intelligent Technologies, regarding the now finalised acquisition.
“Telrad has an incredibly strong track record of success and a rich history of innovation. 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 and an opportunity to innovate and grow exponentially in both the Israeli and international markets,” added Moti Elmaliach, Telrad’s CEO.
Liquid explains that Telrad will continue to be led by Elmaliach as CEO, who will also be appointed to the group’s executive team.
At the time of writing, the precise figure regarding the acquisition has not been detailed, but this is an interesting move from Liquid, with the prospect of extending its infrastructure even further into new territories, not to mention adding some new technologies to its current mix.