iQSTEL to Acquire Ultranet Telecom for $17.6M, Projecting $130M Annual Revenue Boost
Summary
iQSTEL has entered a binding agreement to acquire a 51% controlling interest in Ultranet Telecom for $17.6 million, comprising $7.0 million in initial cash and up to $10.6 million in earnouts. This follows a recent Memorandum of Understanding and comes as iQSTEL faces substantial doubt about its ability to continue as a going concern, alongside a highly dilutive $50 million equity financing facility. The acquisition price is over 2.5 times iQSTEL's current market capitalization, with management expecting it to add approximately $130 million in annual revenue and $4.5 million in net profit. This represents a significant potential increase for a company that reported net losses in Q1 2026. The transaction is targeted to close in Q3 2026, pending due diligence and regulatory approvals.
At the time of this announcement, IQST was trading at $0.97 on NASDAQ in the Technology sector, with a market capitalization of approximately $6.9M. The 52-week trading range was $0.93 to $13.46. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Wiseek News.