IQSTEL Signs Binding MoU To Acquire 51% Controlling Interest In Ultranet Telecom Group, Terms Undisclosed
Benzinga Newsdesk 8 hours ago
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Proposed Ultranet AcquisitionIQSTEL has signed a binding memorandum of understanding to acquire a 51% controlling interest in Ultranet Telecom Group, which reported audited fiscal year 2025 revenue of $130.9 million, up
Proposed Ultranet Acquisition
IQSTEL has signed a binding memorandum of understanding to acquire a 51% controlling interest in Ultranet Telecom Group, which reported audited fiscal year 2025 revenue of $130.9 million, up 30% year-over-year, and net income of $4.6 million. Closing is targeted for the first quarter of 2027, subject to definitive agreements, regulatory approvals and customary closing conditions. IQSTEL expects the acquisition to make the Company cash-flow positive on a consolidated basis.
On October 26, 2026, IQSTEL announced the closing of the first tranche of the financing for the Ultranet transaction: up to $3 million in two-year senior secured, non-convertible promissory notes, together with pre-funded warrants to purchase up to 420,000 shares of common stock. The notes carry no conversion feature.
For illustration only, assuming the $430 million objective is met and the Ultranet transaction closes, the combined annualized revenue base would exceed $560 million.