In a bold move to accelerate its growth in the fintech sector, IQSTEL Inc. (OTCQX: IQST) has announced plans to acquire a majority stake in GlobeTopper, LLC (GT), a cutting-edge B2B Top-Up solutions provider. This strategic acquisition, revealed through a recently signed Memorandum of Understanding (MOU), is set to significantly boost IQSTEL’s fintech division and strengthen its overall revenue outlook.
IQSTEL Inc. is a multinational company offering a diverse range of services including telecom, fintech, cybersecurity, and AI-driven solutions. The company has been on an aggressive growth trajectory, reporting a record-breaking $283 million in revenue for the fiscal year 2024.
The acquisition of GlobeTopper is expected to be a game-changer for IQSTEL’s fintech ambitions. GT, already a profitable entity, reported preliminary financials of $39.4 million in revenue and $190,000 in EBITDA for FY-2024. Under the terms of the MOU, IQSTEL will secure a 51% majority stake in GT, with plans to inject an additional $1.2 million in growth capital over the next 24 months.
IQSTEL’s CEO, Leandro Iglesias, expressed confidence in the acquisition’s potential to drive growth. “This strategic move not only reinforces our fintech division but also positions us closer to our ambitious goal of reaching $1 billion in revenue by 2027,” Iglesias stated.
The deal structure involves a total consideration of $700,000, with $200,000 in cash installments and $500,000 in IQSTEL common shares. Additionally, IQSTEL has committed to providing up to $1.2 million in structured growth capital over two years, contingent on GT meeting agreed financial milestones.
One of the key advantages of this acquisition is the potential for cross-selling opportunities. IQSTEL plans to integrate GT’s fintech services across its extensive global telecom customer base, which spans 21 countries across four continents. This integration is expected to unlock new, high-margin revenue streams while enhancing value for existing clients3.
Craig Span, the founder and CEO of GlobeTopper, will continue to lead the company post-acquisition, ensuring continuity and driving GT’s growth objectives in alignment with IQSTEL’s strategic vision.
Looking ahead, IQSTEL has outlined an ambitious growth plan for GT. The company projects GT’s revenue to reach $60 million with $450,000 in EBITDA for FY-2025, and $85 million in revenue with $620,000 in EBITDA for FY-2026.
This acquisition aligns with IQSTEL’s broader strategy of leveraging its telecom platform to offer complementary services and expand its technology portfolio. As the company moves forward with this strategic acquisition, investors and industry observers will be watching closely to see how it impacts IQSTEL’s growth trajectory and its progress towards the billion-dollar revenue milestone.
