IQSTEL targets African telecom expansion with Ghana’s Ultranet acquisition

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US-listed technology company IQSTEL (NASDAQ: IQST) has signed a binding memorandum of understanding to acquire a 51% controlling stake in Ghana -based Ultranet Telecom Group , in a move aimed at strengthening its presence across Africa and accelerating its global growth strategy. The transaction is expected to be the largest acquisition in IQSTEL’s history, adding an estimated $130mn in annual revenue and about $4.5mn in net profit, based on Ultranet’s audited 2025 financial results. The acquisition would propel IQSTEL beyond a $500mn annualised revenue run rate, marking a significant milestone in the company’s ambition to become a $1bn global technology-driven corporation. Under the proposed agreement, 60% of the purchase consideration will be contingent on Ultranet meeting specified net income targets over the next 24 months, creating what the companies described as a performance-driven structure that aligns the interests of both parties. The deal remains subject to due diligence, definitive agreements and other customary closing conditions. IQSTEL CEO Leandro Iglesias described the transaction as a strategic step to expand the company’s global reach. “In this transaction we are expanding our global footprint and operational scale,” he said. “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.  Ultranet CEO Raymond Oppong-Dapaah said the partnership would help the company expand beyond its traditional African markets. “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,” he said. Ultranet currently operates in Ghana , Nigeria , Mali , Burkina Faso , Senegal and Côte d’Ivoire, while also maintaining commercial activities in Europe , Asia and North America . A major attraction for IQSTEL is Ultranet’s portfolio of six exclusive international SMS gateway agreements with leading African mobile operators. The agreements grant sole international  SMS routing rights in their respective markets and provide recurring revenue streams in a business segment characterised by high barriers to entry. Following completion of the transaction, the combined group is expected to operate in roughly 30 countries across five continents. IQSTEL said it expects the acquisition to strengthen its telecom infrastructure and carrier operations, accelerate growth in higher-margin digital services, artificial intelligence and fintech businesses, expand its presence across Africa , the Middle East and Asia , and create operational efficiencies through greater scale. © 2026 bne IntelliNews, source Magazine

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