Liquid intelligent Technologies, a pan-African leader in digital infrastructure and services today announced the acquisition of Israeli tech company, Telrad. The acquired company is a global provider of innovative Long Term Evolution (LTE) and other telecom solutions.
Plans had been underway since May after its announcement of a definitive agreement to acquire Telrad (TASE: ILA). The buy of the company was 100% and Moti Elmaliach will continue as Telrad’s CEO.
What to expect:
With this takeover, Liquid will leverage the presence of the target company in 13 countries across the Middle East, South America, the United States, Eastern Europe, and Asia.
• It will also enable Liquid go global and increase the range of its solutions to help bridge the digital divide in Africa.
• The purchase will also see an integration of Telrad’s Research and Development programme and technology solutions in cyber security, data centres and wireless access technology with Liquid’s existing portfolio of solutions.
What to Note:
Liquid has in the last two decades shown a large appetite for acquisition and expansion. Since its launch in 2005, the digital infrastructure company has driven through Africa by immersive acquisitions.
• 2008 saw the acquisition of Data Control Systems in Zimbabwe.
• In 2012, Liquid also took over Zimbabwean Internet Service Provider (ISP), Zimbabwe Online.
• 2013 revolved around the acquisition of Kenya Data Networks in Kenya, Rwandatel in Rwanda and Infocom in Uganda.
• In 2017 alone, Liquid acquired Neotel to enhance its network capabilities across South Africa. That same year it also acquired Raha in Tanzania and Zanlink in Zanzibar to expand its presence in East Africa.
By annexing these companies into its brand, Liquid is able to start off into new markets with a solid base and increased synergy.
What they are saying
According to Nic Rudnick, Deputy Chairman, Liquid Intelligent Technologies, “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 Chief Executive Officer said, “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”, he added.
About Liquid’s parent company:
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.
(Wholly reported by Ajifa Solomon)