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IQSTEL to acquire 51% of Ultranet, adding $130M revenue and boosting global telecom presence.

Company Fundamentals
04 Jun 2026
PRNewsWire
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Bullish
pluang ai news

IQSTEL Inc. announced a binding agreement to acquire a 51% controlling stake in Ultranet Telecom Group, a Ghana-based telecom firm with operations across Africa and internationally. The acquisition is expected to add about $130 million in annual revenue and $4.5 million in net profit based on Ultranet's 2025 financials, pushing IQSTEL's annual revenue run rate beyond $500 million. This deal expands IQSTEL's footprint into Africa and aims to accelerate growth in the Middle East and Asia, leveraging Ultranet's exclusive SMS gateway agreements and telecom infrastructure. The transaction is targeted to close in Q3 2026, pending due diligence and regulatory approvals.

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