IQSTEL signs MOU to acquire controlling stake in Ultranet Telecom Group

IQSTEL (NASDAQ:IQST) announced today that it has signed a binding Memorandum of Understanding (MOU) to acquire a 51% controlling interest in Ultranet Telecom Group.

Headquartered in Ghana, Ultranet operates a robust network of telecommunications and technology services spanning Africa and several international markets.

The transaction is expected to be a significant catalyst for IQSTEL’s financial profile.

Based on Ultranet's audited financial results for fiscal year 2025, the acquisition is projected to add approximately $130 million in annual revenue and roughly $4.5 million in net profit.

Upon completion, the integration is expected to push IQSTEL’s annualized revenue run rate above the $500 million threshold and increase its net income from operations by approximately fourfold.

The deal structure includes a performance-based component, with approximately 60% of the consideration contingent upon Ultranet achieving specified net income targets over a 24-month period.

This mechanism aligns the interests of the two organizations and provides a pathway for long-term growth and stability post-acquisition.

The parties have established a 60-day window to negotiate and finalize a definitive purchase agreement.

The transaction is targeted to close in the third quarter of 2026, subject to the successful completion of due diligence and the fulfillment of customary closing conditions.