NEW YORK – May 29, 2025 –
IQSTEL Inc. (NASDAQ: IQST), a rapidly expanding player in the telecommunications and emerging technologies sector, today announced a definitive agreement to acquire a 51% stake in GlobeTopper (GlobeTopper.com), a dynamic fintech innovator with operations spanning the Americas, Europe, and Africa. The deal, slated to become effective on July 1, 2025, marks a significant stride in IQSTEL’s ambitious journey toward becoming a billion-dollar revenue corporation.
This acquisition, following a Memorandum of Understanding (MOU) signed on March 21, 2025, underscores IQSTEL’s strategic commitment to expanding its high-tech fintech footprint on a global scale.
GlobeTopper’s Solid Footing
GlobeTopper’s current performance speaks volumes, projecting over $65 million in profitable revenue for 2025. The firm’s financial forecasts for the next three years suggest a trajectory of consistent growth and operational strength.
A Strategic Masterstroke
IQSTEL’s move to acquire GlobeTopper is driven by a well-defined strategic vision.
“We’re not just acquiring a company; we’re partnering with a growth engine,” said Leandro Iglesias, CEO of IQSTEL.
“Our objective is to leverage GlobeTopper’s innovative fintech products and services, scaling them globally through IQSTEL’s robust commercial platform. This platform already boasts connections with over 600 of the world’s largest telecom operators.”
Simultaneously, GlobeTopper’s existing clientele, including major multinational corporations, will provide IQSTEL with an entry point into new markets, paving the way for deeper penetration into the enterprise and global brand segments.
“We see massive potential for expansion,” Iglesias continued. “This is more than just an acquisition; it’s a strategic commercial maneuver uniting two agile organizations and setting the stage for exceptional achievements.”
Together, IQSTEL and GlobeTopper aim to lead the convergence of fintech and telecommunications across high-value markets in Africa, Europe, and the Americas.
Strategic Synergies & Ongoing Leadership
The transaction ensures leadership continuity by retaining Craig Span as CEO of GlobeTopper, facilitating a smooth integration within IQSTEL’s Fintech Division.
“This partnership with IQSTEL marks a new chapter for GlobeTopper,” said Craig Span, CEO of GlobeTopper.
“We are thrilled to join forces with a Nasdaq-listed company that shares our vision, values, and ambition. With the backing of IQSTEL, we are ready to expedite our growth and become a significant player in the global fintech arena.”
GlobeTopper will work in collaboration with GlobalMoneyOne.com, co-developing a three-year business plan to establish itself as a top contender in the global fintech landscape.
Accelerating Toward $1 Billion
“We’ve successfully scaled subsidiaries before, and we’re doing it again with GlobeTopper,” Iglesias confirmed.
“This transaction firmly puts us on track to reach a $400 million revenue run rate and hit our targeted 80% telecom / 20% tech revenue ratio by the close of this year.”
This acquisition solidifies IQSTEL’s position as a high-margin, technology-focused growth platform, propelling its $1 billion revenue goal by 2027.
Transaction Highlights
The transaction is valued at up to $700,000, structured to align performance with shareholder value:
- $200,000 in staged cash payments
- $500,000 in restricted IQSTEL common stock, issued at a 20% discount to the 5-day VWAP prior to closing
- Performance-based Earn-Outs:
- 50% of EBITDA growth in Year 1 (paid in IQSTEL shares)
- 50% of EBITDA growth in Year 2 (paid in IQSTEL shares)
- Earn-out shares priced at a 20% discount to the higher of the 5-day VWAP.
Furthermore, IQSTEL plans to invest up to $1.2 million over the next 2 years to fuel GlobeTopper’s growth and product development. This investment is contingent on GlobeTopper meeting specific quarterly financial goals, ensuring a performance-based alignment throughout the integration process.
What’s Next
With GlobeTopper integrated into the IQSTEL family, the company is rapidly advancing toward its strategic objectives. IQSTEL maintains its focus on scaling high-tech divisions, expanding its global footprint, and maximizing shareholder value.
“We’re building something significant” Iglesias added, “and the entire IQSTEL ecosystem is gaining substantial momentum.”
About GlobeTopper
GlobeTopper (GlobeTopper.com) is a global Fintech company specializing in the provision of B2B digital prepaid products including gift card programs and services. With a solid track record and a scalable, profitable business model, GlobeTopper is poised for exponential growth under IQSTEL’s leadership.
Details of this acquisition will be disclosed in an upcoming Form 8-K filing.
About IQSTEL Inc.
IQSTEL Inc. (NASDAQ: IQST) is a multinational technology leader providing advanced solutions across Telecom, High-Tech Telecom Services, Fintech, AI-Powered Telecom Platforms, and Cybersecurity. Operating in 21 countries with a team of 100 employees, IQSTEL caters to a broad global customer base with high-value, high-margin services. Backed by a strong and scalable business platform, the company anticipates $340 million in revenue for FY-2025, reinforcing its objective of becoming a $1 billion tech-driven enterprise by 2027.
Use of Non-GAAP Financial Measures: The Company uses certain financial calculations such as Adjusted EBITDA, Return on Assets and Return on Equity as factors in the measurement and evaluation of the Company’s operating performance and period-over-period growth. The Company derives these financial calculations on the basis of methodologies other than generally accepted accounting principles (“GAAP”), primarily by excluding from a comparable GAAP measure certain items the Company does not consider to be representative of its actual operating performance. These financial calculations are “non-GAAP financial measures” as defined under the SEC rules. The Company uses these non-GAAP financial measures in operating its business because management believes they are less susceptible to variances in actual operating performance that can result from the excluded items, other infrequent charges and currency fluctuations. The Company presents these financial measures to investors because management believes they are useful to investors in evaluating the primary factors that drive the Company’s core operating performance and provide greater transparency into the Company’s results of operations. However, items that are excluded and other adjustments and assumptions that are made in calculating these non-GAAP financial measures are significant components in understanding and assessing the Company’s financial performance. These non-GAAP financial measures should be evaluated in conjunction with, and are not a substitute for, the Company’s GAAP financial measures. Further, because these non-GAAP financial measures are not determined in accordance with GAAP, and are thus susceptible to varying calculations, the non-GAAP financial measures, as presented, may not be comparable to other similarly-titled measures of other companies.
Adjusted EBITDA is not a recognized accounting measurement under GAAP; it should not be considered as an alternative to net income, as a measure of operating results, or as an alternative to cash flow as a measure of liquidity. It is presented here not as an alternative to net income, but rather as a measure of the Company’s operating performance. Adjusted EBITDA excludes, in addition to non-operational expenses like interest expenses, taxes, depreciation and amortization; items that we believe are not indicative of our operating performance, such as:
- Change in Fair Value of Derivative Liabilities: These adjustments reflect unrealized gains or losses that are non-operational and subject to market volatility.
- Loss on Settlement of Debt: This represents non-recurring expenses associated with specific financing activities and does not impact ongoing business operations.
- Stock-Based Compensation: As a non-cash expense, this adjustment eliminates variability caused by equity-based incentives.
The Company believes Adjusted EBITDA offers a clearer view of the cash-generating potential of its business, excluding non-recurring, non-cash, and non-operational impacts. Management believes that Adjusted EBITDA is useful in evaluating the Company’s operating performance compared to that of other companies in its industry because the calculation of Adjusted EBITDA generally eliminates the effects of financing, income taxes, non-cash and certain other items that may vary for different companies for reasons unrelated to overall operating performance and also believes this information is useful to investors.
Safe Harbor Statement: Statements in this news release may be “forward-looking statements”. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions, or any other information relating to our future activities or other future events or conditions. Words such as “anticipate,” “believe,” “estimate,” “expect,” “intend”, “could” and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates, and projections about our business based partly on assumptions made by management. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: our ability to successfully market our products and services; our continued ability to pay operating costs and ability to meet demand for our products and services; the amount and nature of competition from other telecom products and services; the effects of changes in the cybersecurity and telecom markets; our ability to successfully develop new products and services; our ability to complete complementary acquisitions and dispositions that benefit our company; our success establishing and maintaining collaborative, strategic alliance agreements with our industry partners; our ability to comply with applicable regulations; our ability to secure capital when needed; and the other risks and uncertainties described in our prior filings with the Securities and Exchange Commission.
These statements are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict. Therefore, actual outcomes and results may and are likely to differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release, and IQSTEL Inc. undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
For more information, please visit www.IQSTEL.com.
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