IQSTEL to Acquire Majority Stake in Ultranet Telecom Group in Landmark Africa Expansion Deal

IQSTEL Inc.,  a global Connectivity, AI, and Digital Services company, announced a Binding Memorandum of Understanding (“MOU”) to acquire a 51% controlling interest in Ultranet Telecom Group (“Ultranet”), a fast-growing telecom and technology company headquartered in Ghana with operations across Africa and international markets.

The transaction, expected to be the largest acquisition ever performed by IQSTEL, is projected to add approximately $130 million in annual revenue and approximately $4.5 million in net profit based on Ultranet’s FY 2025 audited financial statements.

With this acquisition, IQSTEL reaches a major corporate milestone by surpassing a $500 million annualized revenue run rate, further accelerating the company’s strategic path toward becoming a $1 billion global technology-driven corporation.

Additionally, 60% of the consideration is contingent upon Ultranet achieving specified net income targets over the next 24 months, aligning the interests of both parties and reinforcing a performance-driven transaction structure.

The parties anticipate that the transaction will support IQSTEL’s long-term growth objectives, subject to the completion of due diligence, the negotiation and execution of definitive agreements, and other customary closing conditions.

“In this transaction we are expanding our global footprint and operational scale. This is more than an acquisition, it is a strategic partnership combining Ultranet’s powerful African telecom platform with IQSTEL’s global commercial infrastructure, AI capabilities, and digital services vision. Together, we intend to accelerate Ultranet’s Africa growth and launch the Ultranet platform into the Middle East and Asia. Raymond Oppong-Dapaah and his management team will continue leading day-to-day operations and will now have access to greater financial resources, a larger global platform, and expanded technology capabilities to pursue significantly larger opportunities.”

– Leandro Iglesias, CEO, IQSTEL

“We were looking for a strategic partner to accelerate our Africa growth and expand into the Middle East and Asia. IQSTEL brings global scale, financial strength, and a strong digital services vision that we believe will take Ultranet to the next level. By partnering with IQSTEL, we gain the ability to accelerate larger projects, enter new regions more quickly, and access a much broader international ecosystem.”

– Raymond Oppong-Dapaah, CEO and Owner, Ultranet Telecom Group

Ultranet’s Platform and Strategic Assets

Ultranet operates across Ghana, Nigeria, Mali, Burkina Faso, Senegal, and Ivory Coast, with commercial activities in Europe, Asia, and North America.

A key strategic asset of Ultranet is its portfolio of six exclusive international SMS gateway agreements with leading African mobile operators, granting sole international SMS routing rights in their respective markets. These strategic exclusivity agreements represent high-barrier-to-entry assets with recurring revenue characteristics and strong long-term commercial value.

Strategic Advantages of the Combination

The combined platform is expected to operate in approximately 30 countries across 5 continents. IQSTEL believes the transaction creates substantial strategic value through:

• Expanded telecom infrastructure and carrier operations
• Accelerated growth of high-margin Digital Services, AI, and fintech
• Acelerating our presence in Africa, Middle East, Asia
• Stronger international interconnection capabilities
• Operational synergies and cost efficiencies
• Transaction Timeline

The parties are working toward a Definitive Purchase Agreement within 60 days, with a target close in Q3 2026. Financial terms are not being disclosed at this time; additional details will be provided in a Current Report on Form 8-K to be filed with the SEC.