06/04/2026
🌐 IQSTEL Inc. (NASDAQ: IQST) announces binding MOU to acquire 51% interest in Ultranet Telecom Group, positioning the company above a Half-Billion-Dollar Revenue Run Rate and increasing Net Income from operations by 4x.
🔹The transaction, expected to be the largest acquisition ever performed by IQSTEL, is projected to add approximately $130 million in annual revenue and approximately $4.5 million in net profit based on Ultranet’s FY 2025 audited financial statements.
🔹With this acquisition, IQSTEL reaches a major corporate milestone by surpassing a $500 million annualized revenue run rate, further accelerating the company’s strategic path toward becoming a $1 billion global technology-driven corporation.
🔹Additionally, 60% of the consideration is contingent upon Ultranet achieving specified net income targets over the next 24 months, aligning the interests of both parties and reinforcing a performance-driven transaction structure.
🔹The parties anticipate that the transaction will support IQSTEL’s long-term growth objectives, subject to the completion of due diligence, the negotiation and ex*****on of definitive agreements, and other customary closing conditions.
“In this transaction we are expanding our global footprint and operational scale,” said Leandro Iglesias, CEO of IQSTEL. “This is more than an acquisition, it is a strategic partnership combining Ultranet’s powerful African telecom platform with IQSTEL’s global commercial infrastructure, AI capabilities, and digital services vision. Together, we intend to accelerate Ultranet’s Africa growth and launch the Ultranet platform into the Middle East and Asia. Raymond Oppong-Dapaah and his management team will continue leading day-to-day operations and will now have access to greater financial resources, a larger global platform, and expanded technology capabilities to pursue significantly larger opportunities.”
Raymond Oppong-Dapaah, CEO and Owner of Ultranet Telecom Group, added: “We were looking for a strategic partner to accelerate our Africa growth and expand into the Middle East and Asia. IQSTEL brings global scale, financial strength, and a strong digital services vision that we believe will take Ultranet to the next level. By partnering with IQSTEL, we gain the ability to accelerate larger projects, enter new regions more quickly, and access a much broader international ecosystem.”
▶️ The CEO of IQSTEL, Leandro Iglesias, and the CFO of IQSTEL, Alvaro Quintana, will be participating today at 11:00 a.m. in the Seth Farbman Podcast to discuss the company’s vision and the ex*****on of its business plan.
https://podcasts.apple.com/us/podcast/seth-farbman-on-podcast-from-startup-to-stock-exchange/id1356667808
🔗 Read the Full Press Release at the following link:
https://www.prnewswire.com/news-releases/iqst---iqstel-announces-binding-mou-to-acquire-51-interest-in-ultranet-telecom-group-positioning-the-company-above-a-half-billion-dollar-revenue-run-rate-and-increasing-net-income-from-operations-by-4x-302791407.html