Strive Masiyiwa’s Liquid Intelligent expands into ...

Strive Masiyiwa’s Liquid Intelligent expands into global arena

After conquering Africa with footprint in 14 countries, Strive Masiyiwa’s Cassava Technologies is now in Israel after acquiring Telrad for NIS 199 million through Liquid Intelligent Technologies.

“Earlier this year, Liquid entered into a definitive agreement to acquire Telrad, and I am pleased that we have completed this transaction,” Nick Rudnick, Vice President of Liquid Intelligent Technologies, said in a statement announcing the acquisition.

Liquid Intelligent Technologies’ acquisition of the Israel-based technology company with a significant presence in 13 countries across the Middle East, South America, the United States, Eastern Europe and Asia heralds the conglomerate’s arrival on the global stage.

Liquid Intelligent Technologies, a business of Cassava Technologies, a pan-African technology group with capabilities across 14 countries and the largest data, voice and IP provider in Zimbabwe says it will buy Telrad outright and turn it into a privately-held company.

Telrad's share price rose 18% after news the deal was released. The sale comes five years after Telrad’s IPO on the Tel Aviv Stock Exchange.

Founded in 1951, Telrad has three main areas of business, through its subsidiaries: provision of products, solutions and services to telecommunications operators; telecommunications infrastructure, cyber, and IT; and project management and digital mapping services

Telrad CEO Moti Elmaliach said joining Liquid gives Telrad an opportunity to leverage its expertise across the entire technology value chain to innovate and grow significantly in the Israeli and global markets.

Earlier this year Liquid Intelligent acquired a pair of fibers on the Equiano submarine cable from Google, aiming to become the largest provider of connectivity solutions in Africa.

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