#Tech News: iQSTEL, Inc. (OTC: $IQST) Acquisition’s Strategy
Showing Early Success with Subsidiary Revenue of $5,610,633 for 2019
NEW YORK, NY – January 31, 2020 (Investorideas.com
Newswire )- Breaking Tech Stock News - iQSTEL Inc. (OTC: IQST) announces that its 51% Swiss-based European subsidiary generated
over $5.6 million in revenue for 2019.
Read
this news featuring IQST in full at https://www.investorideas.com/news/2020/technology/01311iQSTEL-Acquisition.asp
Mr. Iglesias, the Company’s CEO stated: “The acquisition
strategy we have set out for iQSTEL is showing early success. This vertical acquisition has been key since
it gives us bare-bottom-cost-based voice routing interconnection into European
cities and major carriers we did not previously have. Additionally, we have been able to quickly
implement synergies in our admin, IT and operating departments. This acquisition and integration has been not
only strategic in allowing us to provide cross-selling opportunities with
Etelix, but more importantly we believe it enhances our carrier network
backbone, which we expect to be fundamental as we step up cross-selling
opportunities with soon-to-be-announced services and acquisitions in other
horizontal strategic solutions in the 5G, blockchain-based carrier payment, as
well as DID portability space. Full-year
revenue on an additive basis for both subsidiaries reached $21,938,503 for
2019. We expect organic growth in
these 2 subsidiaries to be in the 20-30% YOY, but more importantly, will be the
backbone of our transitioning into a full-service cloud-based 21st
century communications provider in the near and mid-term.”
About
iQSTEL Inc.:
iQSTEL (OTC: IQST) www.iQSTEL.com is a
technology company offering a wide array of services to the Telecommunications
Industry. These include services to International Long-Distance
Telecommunications Operators (ILD Wholesale), Retail and Corporate markets (ILD
Retail), Submarine Fiber Optic Network capacity, Satellite Communications
services, Mobile Virtual Network Operator (MVNO) services, Internet of Things
(IoT) technology solutions, Data Center facilities capacity leasing, and
Blockchain solutions for the Telecommunications industry.
About Etelix.com USA, LLC:
Etelix.com USA LLC www.etelix.com is
wholly owned subsidiary of iQSTEL Inc. Etelix.com USA, LLC is a Miami,
Florida-based international telecom carrier founded in 2008 that provides
telecom and technology solutions worldwide, with commercial presence in North
America, Latin America and Europe. Enabled by its 214-license granted by the
Federal Communications Commission (FCC), Etelix provides International
Long-Distance voice services for Telecommunications Operators (ILD Wholesale),
and Submarine Fiber Optic Network capacity for internet (4G and 5G). Etelix was
founded in 2008 and has been profitable since inception.
About
SwissLink Carrier AG:
SwissLink Carrier AG www.swisslink-carrier.com is a
51% owned subsidiary of iQSTEL Inc. SwissLink Carrier AG is a Switzerland based
international Telecommunications Carrier founded in 2015 providing
international VoIP connectivity worldwide, with commercial presence in Europe,
CIS and Latin America. SwissLink Carrier AG is a Swiss licensed Operator,
having a domestic Interconnect with Swisscom, allowing their international
Carrier Customers direct terminations via SwissLink into all Switzerland Fix
& Mobile Networks. Since the takeover from Swissphone in November 2018 and
the rename into SwissLink, they operate on a profitable level.
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 statements relating to our future activities or other
future events or conditions. These statements are based on current expectations,
estimates and projections about our business based, in part, on assumptions
made by management. 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.
iQSTEL
Inc.
Source: iQSTEL Inc.
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