August 16, 2022
The African group provides communication services through a 100,000 km fiber optic infrastructure and cloud services and digital infrastructure through an array of data centers
In the photo above, from right to left: Tallard CEO Moti Elmaleh together with Cassava Group CEO Nick Rudnik
Tallard Networks (Number line) was sold to Liquid Telecommunications, which is the holding company of the group Cassava Technologies which operates on the African continent, for approximately NIS 200 million in cash. The transaction was carried out at a share price of NIS 3.78, which represents a premium of approximately 27% to the share price in May 2022, when the Tallard Board of Directors approved the transaction. Today (Tuesday) the merger certificate was received from the Companies Registry, and Talred ceased trading on the Tel Aviv Stock Exchange, and begins operating as a private company operating from Israel and fully owned by Liquid.
The CEO of Tallard, Moti Elmaleh, said that the transaction will allow to expand the scope of Tallard’s international activity. Cassava Group’s Vice President, Nir Rudnik, said that Tallard Company will continue to operate under the management of Elmaleh, who will also be appointed a member of the Cassava Group’s management.
Kabutz Kesava includes the communication provider Technologies Intelligent Liquid, which provides digital infrastructure services, information security and cloud services in continental Africa, with a focus on the sub-Saharan region, and the company Africa Data Centers, which operates linked data centers on the African continent in locations such as South Africa (Johannesburg, Pretoria and Cape Town), Kenya (Nairobi), Nigeria (Lagos), Togo (Loma). The company is in the process of establishing additional facilities on the African continent. In addition, the group owns an African fiber optic network with a total length of about 100,000 km.
Tallard operates in three separate areas: communication and cyber infrastructure, products and solutions for mobile communication operators and business project management and digital mapping services. A central component of the communication solutions group are local wireless communication systems, which came to Tallard following the acquisition of Alvarion’s licensed frequency division in 2013 and the acquisition of WaveIP in May 2021 for $3 million in cash and another $3 million depending on meeting targets. Among other things, the deal is designed to provide Talred with Wi-Fi 6.0 technology.
In the first quarter of 2022, its sales totaled approximately $42.7 million, after a 7.1% decrease in the area of communication infrastructure (to $24.9 million), a decrease of 17.2% in the area of products (to $10.5 million) and a growth of 17.3% in the area of business processes and mapping ( to about 7.8 million dollars). In 2021 as a whole, sales amounted to about 179 million dollars, about 68% of them in Israel and about 17% in South America, mainly in Peru and Chile. On the eve of the transaction, the controlling owner of Tallard was the Fortissimo Fund, which held approximately 41% of its shares.
Posted in the categories: news, mergers and acquisitions, Israeli industry, communication
Posted in tags: tallard, liquid, cassava
