iQSTEL Inc. buys 75% of itsBchain blockchain solutions provider, plans to develop telecom blockchain solutions for carrier, corporate and retail markets
iQSTEL Inc. (OTC: IQST) yesterday closed on its purchase of 75% stake of itsBchain, a blockchain solutions provider, and plans to develop in-house telecom blockchain solutions based on blockchain and artificial intelligence (AI) technologies. iQSTEL Inc. (OTC: IQST) plans to develop telecom blockchain applications for the carrier, corporate and retail markets.
Blockchain and 5G M&A is in the news daily. Media companies such as Stock Market Press are reporting on the fast growing blockchain 5G telecommunications market. It keeps readers up to date on 5G company stocks such as iQSTEL Inc. (OTC: IQST), Motorola Solutions, Inc. (NYSE: MSI), China Mobile Limited (NYSE: CHL),Verizon (NYSE: VZ), AT&T Inc. (NYSE: T), T-Mobile US (NASDAQ: TMUS), Sprint (NYSE: S) and Ericsson (NASDAQ: ERIC), HIVE Blockchain Technologies Ltd. ( (OTC: HVBTF) and Long Blockchain Corp. (OTC: LBCC) in 5G and blockchain networks. Also covered are trends by semiconductor manufacturers Qualcomm (NASDAQ: QCOM), Qorvo (NASDAQ: QRVO) and Skyworks Solutions (NASDAQ: SWKS), among others.
iQSTEL Inc. buys 75% of itsBchain blockchain solutions provider, plans to develop telecom blockchain solutions for carrier, corporate and retail markets
M&A activity in blockchain and 5G is intensifying. Yesterday (February 24, 2020), iQSTEL Inc. (OTC: IQST) completed its acquisition of 75% stake of itsBchain. Mr. Iglesias, CEO of iQSTEL, said, “itsBchain is uniquely position to develop telecom applications based on smart contracts and blockchain technologies. Mobile number portability and carrier wholesale VoIP, SMS and Data payment solutions are just two of the projects itsBchain has under development. We believe the synergy between our subsidiaries, as well as our existing clientele, will greatly benefit from this new acquisition.”
Mr. Miguel Scavo will serve as COO of itsBchain as well as the new CIO of iQSTEL Inc. (OTC: IQST). The company said he is a 20 veteran of the industry and has extensive experience in the telecom industry, particularly Latin America and global markets. Mr. Iglesias said the Mr. Scavo would further enhance the synergy between the portfolio companies. iQSTEL Inc. buys 75% of itsBchain blockchain solutions provider, plans to develop telecom blockchain solutions for carrier, corporate and retail markets.
Beta-Ready Solutions For Tier-1 Carrier Clients
Mr. Iglesias added, “Mr. Scavo will be helping itsBchain and iQSTEL develop next-generation blockchain and artificial intelligence (AI) telecom solutions. itsBchain has several software products completing the alpha testing stage of and we are confident we’ll have beta-ready solutions to offer our Tier-1 carrier clients in the coming days/weeks.”
Mr. Iglesias has been invited for an interview March 25 at NASDAQ Marketsite in Times Square, New York, to discuss the company’s performance and its future plans. It is growing its capabilities with numerous subsidiaries. iQSTEL Inc. buys 75% of itsBchain blockchain solutions provider, plans to develop telecom blockchain solutions for carrier, corporate and retail markets.
QSTEL Inc. (OTC: IQST) Subsidiares Expand Capabilities In Blockchain, 5G
QSTEL Inc. (OTC: IQST) is one of the companies playing an important role in the establishment of 5G networks in 2020 and beyond. It a wholly-owned subsidiary, Etelix, an American based 5G provider of Submarine Fiber Optic Network capacity for internet (4G and 5G). The other is 51% owned SwissLink Carrier AG. SwissLink Carrier AG provides international VoIP connectivity worldwide and more.
The parent company, including its subsidiaries, reported 2019 sales of near $22 million, an 18.5% jump from the prior year. iQSTEL Inc. buys 75% of itsBchain blockchain solutions provider, plans to develop telecom blockchain solutions for carrier, corporate and retail markets. For January 2020, the parent company reported consolidated net sales of $1,844,258, representing a 32% jump in volume when its SwissLink sales are factored in. For subsidiary Etelix, January 2020 sales were $1,459,358, its highest January ever since its inception in 2007. Etelix performance showed a YOY 4% organic growth gain in January 2020., the company said.
Companies Like iQSTEL Inc. (OTC: IQST) Seen Playing Important Role In 5G
Mr. Iglesias, CEO of iQSTEL Inc. (OTC: IQST), says the company sees record revenues and growth for 2020. One reason is that the firm offers a wide array of services in the field: Blockchain solutions, Internet of Things (IoT) solutions, 5G network capacity and Mobile Virtual Network Operator (MVNO) services and more.
Source: Stock Market Press
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