Liquid Intelligent Technologies Buys Telrad Networks

Network Operator, Liquid Intelligent has bought an Israeli-based technology company Telrad.
Liquid Intelligent announced that it has entered into a definitive agreement to acquire Telrad Network.
Reports have said Liquid Intelligent bought Telrad Network by ILS 199 million.
Telrad Network is one of the biggest technology companies in Israeli that provides and maintains products and services for global business and governments in areas including networking, cyber security, cloud infrastructure, data centers, information technology, geo-informatics and education.
Globes reports that the deal between Telrad and Liquid is subjected to approval from most of Telrad shareholders, and the largest shareholder of Telrad that holds about 41 percent of the company’s shares is Fortissimo Fund.
However, Telrad promises that the deal will be completed within few months.
Globes added that the transaction between Liquid and Telrad will take place in the form of an inverted triangle merger.
The acquiring company will establish a dedicated company that will purchase all the Telrad’s shares from its shareholders. After completion of the transactions, Telrad’s shares will stop trading on the stock exchange.
Liquid and Telrad announced that Telrad’s technology products and R&D capabilities, including two dedicated R&D centers will complement Liquid’s offerings and support its long term growth strategy.
The acquisition will strengthen Liquid’s B2B product segments and its geographic reach, using Telrad’s presence in thirteen countries in the Middle East, South America, Eastern Europe and Asia, and in US.