iQSTEL announces strategic acquisition of 51% stake in Lynk Telecom

iQSTEL Inc., a multinational telecommunications and technology company based in the U.S., announced a significant development in its corporate expansion strategy. The company signed an agreement to acquire a 51% membership interest in Lynk Telecom. This transaction is valued strategically to enhance iQSTEL’s service offerings and financial metrics, underscoring its commitment to strengthening its market presence in the United States.

Lynk Telecom, renowned for its comprehensive suite of both wholesale and retail telecommunications services, has reported an impressive $20 million in estimated annual revenue and $1 million in estimated annual net income. This acquisition is poised to significantly impact iQSTEL’s financial structure and market strategy, particularly as it prepares for a Nasdaq up-listing.

According to the terms of the sales and purchase contract executed today, iQSTEL will purchase a majority equity stake in Lynk Telecom. The deal, subject to customary due diligence, is expected to close no later than July 1, 2024. Details of the transaction will be disclosed in an upcoming Form 8-K filing, ensuring transparency and regulatory compliance.

Omar Luna, CEO of Lynk Telecom, expressed enthusiasm about the new partnership, stating, “I’m absolutely thrilled to join the iQSTEL family. The support and synergies that iQSTEL offers are invaluable, and I have no doubt that they will help us double our business in a relatively short period. This partnership is a fantastic opportunity for growth, and I can’t wait to see where it takes us.”

Echoing this sentiment, Leandro Iglesias, CEO of iQSTEL, highlighted the strategic nature of this acquisition, “Lynktel is a very strategic acquisition for iQSTEL adding substantial operating and net income in proportion to its revenue base and giving iQSTEL enhanced presence in the US market. Lynktel takes iQSTEL one step closer to realizing our billion dollar annual revenue goal.”

This acquisition not only enhances iQSTEL’s portfolio but also positions it more robustly as it progresses towards a Nasdaq up-listing. The expansion into retail services through Lynk Telecom is expected to deliver significant financial benefits, with projections indicating a potential million dollars or more in operating net income by next year.

As iQSTEL integrates Lynk Telecom’s operations, the focus will undoubtedly remain on leveraging synergies to optimize performance and achieve accelerated growth within the competitive U.S. telecom market.