iQSTEL Acquires 51% Stake in Smartbiz Telecom
April 21, 2022
iQSTEL, Inc. acquired a 51% interest in Smartbiz Telecom LLC in a deal consisting of $800,000 cash and $1,000,000 in restricted iQSTEL common stock. The acquisition gives iQSTEL a US foothold and access to Smartbiz's US voice termination, sales infrastructure and SMS capabilities; Smartbiz is expected to contribute to iQSTEL's topline and a projected $0.5M net income for FY2022.
- Buyers
- iQSTEL, Inc.
- Targets
- Smartbiz Telecom LLC
- Industry
- Telecommunications
- Location
- Florida, United States
- Transaction Type
- Buyout
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