iQSTEL signs binding MOU to acquire 51% of Ultranet Telecom for $17.6M, adds ~$130M revenue

iQSTEL Inc

Consideration: $17.6M ($7M cash, up to $10.6M contingent on net income targets of $4.5M Y1 and $9.5M cumulative).
Ultranet expected to add ~$130M annual revenue and ~$4.5M net profit, pushing IQSTEL above $500M revenue run rate.
60% of consideration performance-based; definitive agreement within 60 days; close targeted Q3 2026.
Ultranet operates across 6 African countries with exclusive SMS gateway agreements with leading mobile operators.
Ultranet's CEO Raymond Oppong-Dapaah to continue leading operations; IQSTEL obtains majority board control.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

iQSTEL Inc entered into Binding Memorandum of Understanding with Ultranet Telecom Group and its shareholders, Raymond Oppong-Dapaah and Mohsin Ali valued at US$17,600,000 (effective 2026-06-03).

Action: entry
Agreement: asset purchase
Counterparty: Ultranet Telecom Group and its shareholders, Raymond Oppong-Dapaah and Mohsin Ali
Value: US$17,600,000
Effective: 2026-06-03

Exact text from the filing

On June 3, 2026, iQSTEL Inc. (the “Company”) entered into a Binding Memorandum of Understanding (the “MOU”) with Ultranet Telecom Group and its shareholders, Raymond Oppong-Dapaah and Mohsin Ali (collectively, the “Sellers”), pursuant to which the Company agreed to acquire a 51% controlling interest in the Ultranet Telecom Group (the “Ultranet Business”).

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Source: SEC EDGAR

accession 0001663577-26-000183

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