IQSTEL announced that it has signed a binding memorandum of understanding (MOU) to acquire a 51% controlling interest in Ultranet Telecom Group, a Ghana-based telecommunications and technology company with operations across Africa and international markets.
The transaction is expected to be the largest acquisition in IQSTEL’s history and is projected to add approximately $130 million in annual revenue and about $4.5 million in net profit based on Ultranet’s audited fiscal year 2025 financial results.
Following the acquisition, IQSTEL said it expects to surpass a $500 million annualized revenue run rate, advancing its long-term objective of becoming a $1 billion technology-driven company. The deal structure also includes a performance-based component, with 60% of the consideration contingent upon Ultranet achieving specified net income targets over the next 24 months.
The acquisition remains subject to due diligence, definitive agreements, regulatory approvals, and customary closing conditions. The companies are targeting the execution of a definitive purchase agreement within 60 days and expect the transaction to close during the third quarter of 2026.
According to IQSTEL, the combination will expand its telecommunications infrastructure, strengthen carrier operations, accelerate growth in digital services, artificial intelligence, and fintech, and enhance its presence across Africa, the Middle East, and Asia.
Ultranet currently operates across Ghana, Nigeria, Mali, Burkina Faso, Senegal, and Ivory Coast, while maintaining commercial activities in Europe, Asia, and North America. One of the company’s key assets is a portfolio of six exclusive international SMS gateway agreements with major African mobile operators, providing sole international SMS routing rights in their respective markets.
IQSTEL said the combined platform is expected to operate in approximately 30 countries across five continents, creating opportunities for expanded international interconnection capabilities, operational synergies, and cost efficiencies.
Under the planned partnership, Ultranet’s management team, led by CEO Raymond Oppong-Dapaah, is expected to continue overseeing day-to-day operations while leveraging IQSTEL’s financial resources, global commercial network, artificial intelligence capabilities, and digital services platform to pursue additional growth opportunities.
IQSTEL currently operates in 21 countries and provides international voice, SMS, messaging, connectivity, and mobile financial services to telecom operators and enterprise customers worldwide. The company has also been expanding into AI-powered communications and cybersecurity through its Reality Border AI division and partnership initiatives.
KEY QUOTES:
“In this transaction we are expanding our global footprint and operational scale. 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. Raymond Oppong-Dapaah and his management team will continue leading day-to-day operations and will now have access to greater financial resources, a larger global platform, and expanded technology capabilities to pursue significantly larger opportunities.”
Leandro Iglesias, CEO, IQSTEL
“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.”
Raymond Oppong-Dapaah, CEO And Owner, Ultranet Telecom Group
