IQSTEL to Acquire 51% of Ultranet Telecom, Projecting $130M Revenue Boost and 4x Net Income
IQST is trading near its 52-week low of $0.99 (11% above the low) on light trading volume (0.2× avg).
Summary
iQSTEL announced a binding Memorandum of Understanding to acquire a 51% controlling interest in Ultranet Telecom Group. This acquisition is projected to add approximately $130 million in annual revenue and $4.5 million in net profit, based on Ultranet's FY 2025 audited financials. This is a massive development for iQSTEL, which reported Q1 2026 revenue of $97.9 million and has recently disclosed substantial doubt about its ability to continue as a going concern, along with negative working capital. The acquisition would more than double iQSTEL's current revenue run rate and significantly boost its net income, directly addressing the company's stated goal of reaching $500M-$600M in revenue, following recent highly dilutive financing agreements. The parties are working towards a definitive purchase agreement within 60 days, with a target close in Q3 2026, and an 8-K filing with financial terms is expected.
At the time of this announcement, IQST was trading at $1.10 on NASDAQ in the Technology sector, with a market capitalization of approximately $7.7M. The 52-week trading range was $0.99 to $13.48. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: PR Newswire.