Israeli "Telrad" is sold to the Liquid Intelligent Technologies telecom for NIS 200 million in cash

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by Ifi Reporter Category:Financial May 8, 2022

The Israeli company Telrad Networks is sold to the Liquid Intelligent Technologies telecom group for about NIS 200 million in cash. The value of the deal is about 27% higher than the value of the company this morning on the Tel Aviv Stock Exchange.
The deal is subject to the approval of most of Telrad's shareholders, and the company estimates that it will be completed within a few months. The largest shareholder in Telrad is the Fortissimo Fund, which holds about 41% of the company's shares.

The transaction will take place in the format of an inverted triangle merger. The acquiring company will establish a dedicated company, which will purchase the entire Telrad shares from its shareholders, and after the completion of the transaction, Telrad's shares will be deleted from trading on the stock exchange.
The acquiring group operates in the fields of telecom, fintech and energy in the international markets. The group is the controlling owner of Liquid, a leading communications and cloud services provider with a presence in 15 countries on the African continent. Liquid is also Africa's largest data center operator. In addition, Liquid has activities in the field of fintech and in the field of solar energy systems management.
Yuval Cohen, Telrad's chairman and managing partner at the Fortissimo Fund, said that "Telrad is a growing company, with good profitability over the years and with a large backlog of orders for the coming years. "The connection with Liquid, which is a significant international group, will ensure the company's expansion in Israel as a significant technological center for the entire group, and its penetration into new markets and customers in the coming years."
Moti Elmaleh, CEO of Telrad, said: "The Liquid Telecom Group expresses confidence in Telrad and the Israeli high-tech industry. The combination with the Liquid Group will enable Telrad's technological innovation, products and services in the three operating segments to the existing international activity in the acquiring group, serving millions of private customers and hundreds of thousands of business customers across the continent, and will significantly accelerate and develop Telrad's business in international markets.
Discount Capital and Lincoln International served as the investment bankers of the transaction, as part of their international collaboration.

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