iQSTEL finalizes acquisition of 51% of QXTEL LTD., aiming at Nasdaq qualification
Acquiring Company
iQSTEL
Acquired Company
QXTEL
Coral GablesHardwareArtificial IntelligenceCyber SecurityHardwareDescription
iQSTEL Inc. has completed the acquisition of 51% of QXTEL LTD., a major milestone that brings iQSTEL closer to its vision of becoming one of the top ten wholesale telecom operators globally. The addition of QXTEL is expected to significantly bolster iQSTEL's operational results and balance sheet, with an estimated increase in revenue, gross profit, operating income, and net income. This acquisition also brings iQSTEL's post-acquisition net equity to a level practically double the minimum necessary to qualify for Nasdaq. The commitment to sustained profitability and the short-term financial goal of reaching $0.5 million per quarter in operating income further demonstrate iQSTEL's strategic direction.
Quick answer
iQSTEL is acquiring QXTEL, announced April 4, 2024. iQSTEL is based in Coral Gables, Florida, United States.
- How much did iQSTEL pay for QXTEL?
- The deal value was not disclosed.
- Where are iQSTEL and QXTEL based?
- iQSTEL is based in Coral Gables, Florida, United States.
- Who are the decision-makers at iQSTEL?
- Fundz holds 3 contacts at iQSTEL. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Other recent acquisitions in Hardware and Cyber Security
Deals where the buyer or target shares a sector with this one, within 45 days, from Fundz verified event records.
- iQSTEL Inc. to acquire 51% of Lynk Telecom, adding $20M in revenue and $1M in net income (May 10, 2024)
- Aurionpro Solutions Limited acquires Arya.ai to strengthen Enterprise AI platforms for Financial Institutions (April 20, 2024)
- Stefanini Group completes acquisition of Brazilian Industry Leader Protega to Expand Cybersecurity Portfolio (April 3, 2024)
- Powerfleet, Inc and MiX Telematics Limited Complete Business Combination to Create Global AIoT SaaS Provider (April 2, 2024)
- Accenture Plc to acquire OPENSTREAM HOLDINGS and its subsidiaries in Japan (May 17, 2024)
- Boldyn Networks completes acquisition of Apogee Telecom to expand connectivity solutions (May 16, 2024)
Who to call at iQSTEL, and when
When iQSTEL changes hands, the new owners review vendors, systems and leadership. That is when the door opens.
- An alert the day iQSTEL raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at iQSTEL, from your own LinkedIn network
Works inside ChatGPT and Claude. Ask who to call at iQSTEL. With Fundz connected, it knows.
AI made execution free. Knowing first is the whole game now.
Fundz sees it the moment iQSTEL makes an acquisition, hires an exec or expands, usually minutes after it happens, and tells you who to reach.
Related People
Frequently asked
Who acquired QXTEL?
QXTEL was acquired by iQSTEL, based in Coral Gables. The deal was reported on April 4, 2024. iQSTEL is publicly traded (IQST) and operates in Hardware.
When did iQSTEL acquire QXTEL?
iQSTEL's acquisition of QXTEL was reported on April 4, 2024. iQSTEL Inc. has completed the acquisition of 51% of QXTEL LTD., a major milestone that brings iQSTEL closer to its vision of becoming one of the top ten wholesale telecom operators globally. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does QXTEL do?
QXTEL LTD. is an elite wholesale telecom company with over a quarter billion in revenue. It is known for its competitive edge in the marketplace and its strong partnerships with carriers around the globe. It is privately held, operating in Hardware.
This company was part of an acquisition. Fundz tracks who bought whom, and who to call on both sides.
145 of these a day, filtered to the companies you pick, with the decision-maker attached.
5 screens from a live account. No signup.