IQSTEL has signed a binding Memorandum of Understanding (MOU) to acquire a 51% controlling stake in Ghana-based Ultranet Telecom Group, marking what is expected to become the largest acquisition in the company's history.

The deal strengthens IQSTEL's presence across Africa and is projected to contribute approximately $130 million in annual revenue and $4.5 million in net profit based on Ultranet's audited 2025 financial results.

The acquisition represents a significant milestone for IQSTEL as the company moves beyond a $500 million annualised revenue run rate and advances its long-term ambition of becoming a $1 billion global technology and digital services company.

Acquisition expands IQSTEL's African footprint

Headquartered in Ghana, Ultranet Telecom operates across several African markets, including Ghana, Nigeria, Mali, Burkina Faso, Senegal and Ivory Coast. The company also maintains commercial relationships in Europe, Asia and North America.

A key asset in the transaction is Ultranet's portfolio of six exclusive international SMS gateway agreements with major African mobile network operators. These agreements provide sole international SMS routing rights in their respective markets and generate recurring revenue while creating significant barriers to entry for competitors.

Following completion of the transaction, the combined business is expected to operate in approximately 30 countries across five continents, significantly expanding IQSTEL's international telecommunications footprint.

According to IQSTEL, the acquisition will strengthen its telecom infrastructure capabilities, enhance international carrier operations and create opportunities to accelerate growth in digital services, artificial intelligence and fintech.



Strategic partnership targets growth beyond Africa

IQSTEL Chief Executive Officer Leandro Iglesias described the transaction as more than a traditional acquisition, calling it a strategic partnership designed to combine Ultranet's African telecom network with IQSTEL's global infrastructure and digital services capabilities.

The company believes the partnership will support Ultranet's continued expansion across Africa while opening opportunities in the Middle East and Asia.

Ultranet founder and CEO Raymond Oppong-Dapaah said the company had been seeking a strategic partner capable of providing the scale, financial resources and technology expertise needed to accelerate growth and pursue larger projects across new markets.

As part of the agreement, Oppong-Dapaah and the existing management team will continue overseeing Ultranet's day-to-day operations while gaining access to IQSTEL's broader global ecosystem.

The deal structure also includes a performance-based component, with 60% of the consideration tied to Ultranet achieving specified net income targets over the next 24 months.

Both companies are targeting the execution of a definitive purchase agreement within 60 days, with the transaction expected to close during the third quarter of 2026, subject to due diligence and customary regulatory approvals.