IQSTEL will acquire a 51% stake in Ghana-based Ultranet, adding $130 million in annual revenue and $4.5 million in net profit from FY2025 audited results. The deal lifts IQSTEL’s annualized run rate above $500 million and ties 60% of payment to Ultranet meeting 24-month net income targets.
IQSTEL has signed a binding MOU to acquire a 51% controlling interest in Ghana-based Ultranet Telecom Group, marking its largest acquisition to date. Ultranet operates in six African nations and holds six exclusive international SMS gateway agreements with leading regional mobile operators.
Based on FY2025 audited statements, Ultranet will contribute approximately $130 million in annual revenue and $4.5 million in net profit. IQSTEL’s net income from operations is expected to increase fourfold, and the acquisition pushes the company above a $500 million annualized revenue run rate.
Sixty percent of the acquisition consideration is contingent on Ultranet achieving specified net income targets over the next 24 months. This performance-driven approach aligns incentives and reduces upfront cash requirements for IQSTEL.
The parties aim to finalize a definitive agreement within 60 days and close the deal by Q3 2026, contingent on due diligence and regulatory approvals. IQSTEL plans to leverage Ultranet’s platform to expand digital services, AI, and fintech offerings across Africa, the Middle East and Asia.
