Key facts
- IQSTEL Inc. signed a binding MOU to acquire 51% of Ultranet Telecom Group.
- The acquisition is expected to position IQSTEL above a half-billion-dollar revenue run rate.
- Net income from operations is projected to increase by 4x.
- Ultranet is expected to contribute approximately $130 million in revenue.
- Ultranet is expected to contribute approximately $4.5 million in net profit based on FY 2025 audited financials.
IQSTEL Inc. (NASDAQ: IQST), a company focused on Connectivity, AI, and Digital Services, has announced a binding Memorandum of Understanding (MOU) to acquire a 51% interest in Ultranet Telecom Group. This strategic move is anticipated to significantly enhance IQSTEL's financial performance. Upon completion of the acquisition, IQSTEL expects its revenue run rate to exceed $500 million. Furthermore, the company projects a fourfold increase in net income derived from its operations. Ultranet Telecom Group is estimated to contribute approximately $130 million in revenue and around $4.5 million in net profit, based on its audited financial statements for Fiscal Year 2025.