Will Acquisition News Send Shares of this Telecom Firm Higher?

Will Acquisition News Send Shares of this Telecom Firm Higher?

By: Dylan Sikes – AllPennyStocks.com News

Monday, January 22, 2024

This publicly listed company, preparing for a Nasdaq up-listing, just announced a new acquisition. US-based, multinational iQSTEL Inc. (OTC-QX: IQST), and UK-based telecom services provider QXTEL LTD.,  announced in a press release today an agreement for iQSTEL to acquire 51% of QXTEL adding QXTEL to the iQSTEL Telecom Division which includes Etelix, Swisslink, Smartbiz, Whisl, QGlobal SMS, IoTLabs, and itsBchain.

This addition to iQSTEL's Telecom Division is expected to add more than $80 million in annual revenue and iQSTEL management anticipates the combined sales of the two companies to initially generate $250 million in annual revenue before the accelerated growth anticipated from the synergies of the combination.  iQSTEL has achieved a consolidated positive operating income in Q3 2023, one fiscal quarter ahead of forecast, and the addition of QXTEL will further boost the Telecom Division of iQSTEL to forecast $3 million of positive operating income annually.

 


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