Celldor Buys Telrad Connegy

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Celldor acquires Telrad Connegy

Lod Israel 27 Feb 06

Telrad Connegy announced today that Celldor Ltd has acquired the company. The acquisition is a financial investment for Celldor and there are no plans to combine the two businesses. Telrad Networks, the parent company prior to the investment will remain a shareholder and a member of the company's board of directors.

During the past few months the new management of Telrad Networks and Telrad Connegy have been formulating their long and medium-term business strategies. Telrad Networks is basing its growth strategy on supplying solutions to emerging carriers and Telrad Connegy's focus on the enterprise market does not align with this strategy. Therefore, it is in the best interest of both parties to separate their combined operations.

"Having our operations combined with Telrad Networks was convenient for Telrad Connegy" said Rami Goraly, Telrad Connegy's President & CEO. "However, we lacked the agility and flexibility that was required to compete effectively in our markets. We were looking for an investor that can support the company in its transition to independent operations."

"When Telrad Connegy approached me for a proposed investment I was immediately attracted to the opportunity" said Avi Weinrib, Chairman of Celldor "After learning more about Telrad Connegy I could see clearly that Telrad Connegy is a great investment for us. I see a company with a strong management team, a loyal dealer base, and a great product and I am confident that with our experience we will be able to turn the company into a stellar success."

Telrad Connegy is currently in the process of enhancing the IP solution capabilities of its AdvanceIP Platform and it is expected that this acquisition will help accelerate this development.