(MENAFN- PR Newswire)
NEW YORK, Oct. 10, 2024 /PRNewswire/ --
iQSTEL Inc. (OTCQX: IQST ), a dynamic leader in telecommunications, fintech, electric vehicle (EV), and AI-driven solutions, is thrilled to announce an exclusive partnership with Cycurion, INC. This strategic collaboration will allow iQSTEL to offer Cycurion's top-tier cybersecurity products exclusively to the U.S. telecommunications industry, while also expanding into other sectors internationally. Leveraging iQSTEL's global presence across 17 time zones, from California to Melbourne, and 7 offices worldwide, this partnership is set to unleash a new wave of high-margin, high-tech offerings for telecommunications clients in Europe, Latin America, the Middle East, and the United States, all while delivering cutting-edge cybersecurity solutions to an increasingly challenging market.
A Transformational Move for iQSTEL.
This partnership is a bold leap forward in iQSTEL's ongoing journey to diversify and expand its portfolio. Over the past few years, iQSTEL has meticulously built a strong business platform, earning the trust of its global customer base. Now, with this deep foundation in place, iQSTEL is perfectly positioned to cross-sell high-margin, high-tech products such as Fintech, EV, and AI-based services. With this partnership, iQSTEL is adding cybersecurity to its offerings, further solidifying its presence in emerging markets.
Leandro Iglesias, CEO of iQSTEL , stated:
"This partnership with Cycurion couldn't have come at a more pivotal time for iQSTEL. We've earned the trust of our clients by building a strong foundation, and now we're amplifying that strength by offering the high-tech solutions they need, especially in cybersecurity. We're delivering future-proof, high-margin services that not only meet the demands of today's digital landscape but also cement our leadership in these rapidly growing sectors. Investors should take note: we're just getting started."
The partnership is laser-focused on addressing critical challenges faced by telecom operators, including meeting stringent security compliance requirements, navigating a global shortage of cybersecurity professionals, and mitigating the increasing number of data breaches. By combining iQSTEL's operational excellence with Cycurion's advanced cybersecurity expertise, the companies are poised to deliver unparalleled security solutions to telecom customers, turning these challenges into high-margin growth opportunities.
A Next-Generation Cybersecurity Strategy
Cycurion's portfolio of cybersecurity services, powered by artificial intelligence (AI), includes 24/7 monitoring, advanced threat detection, incident response, vulnerability assessments, and compliance management. The AI-driven platform continuously adapts to emerging threats, enhancing its ability to detect and respond to cyber risks in real time. Trusted by government agencies such as FEMA, TSA, and the US Courts, Cycurion's proven track record of delivering world-class security services will empower iQSTEL to enhance its product lineup, further increasing customer loyalty and securing long-term revenue growth.
This partnership is expected to drive significant revenue growth for iQSTEL, tapping into the rapidly expanding global cybersecurity market, projected to reach $376 billion by 2029.
Kevin Kelly, CEO of Cycurion , commented:
"Our partnership with iQSTEL opens up tremendous opportunities. We're bringing our cybersecurity expertise to iQSTEL's already strong business platform, enabling them to offer next-level protection to telecom clients. This isn't just about security-it's about enhancing customer confidence, increasing profitability, and ultimately growing both companies' market share in the cybersecurity space."
Key Benefits for iQSTEL Customers and Investors:
24/7/365 Threat and Risk Management: Immediate, real-time protection from the most advanced cybersecurity threats.
Revenue-Driving Public Confidence: Enhanced security measures lead to greater trust from customers, preventing breaches that could undermine public and stakeholder confidence.
Privacy Protection & Compliance: Strengthening privacy safeguards while ensuring clients meet evolving regulatory standards.
Volume Pricing & Financial Advantage:
iQSTEL's purchasing power ensures significantly lower cybersecurity costs for customers, while maintaining a competitive edge.
Expanding into High-Growth Sectors: With Cycurion's services, iQSTEL will continue expanding its reach into high-margin markets such as Fintech, EV, and AI, reinforcing its leadership position.
Empowering the Future with iQSTEL's Strong Business Platform.
This partnership exemplifies iQSTEL's long-term strategy: leveraging the strong foundation of its customer relationships to seamlessly introduce high-tech, high-margin products. The trust that iQSTEL's customers place in its services positions the company to capitalize on massive opportunities in rapidly growing industries like cybersecurity, fintech, electric vehicles, and AI.
Investors are invited to join iQSTEL on this exciting journey. With a projected revenue of $290 million for FY-2024 and plans to continue delivering innovative solutions, iQSTEL's growth trajectory is stronger than ever. This partnership with Cycurion sets the stage for significant revenue expansion and positions iQSTEL as a major player in the high-margin tech markets of the future.
About Cycurion Inc.
Cycurion, headquartered in McLean, Virginia, is a premier cybersecurity provider specializing in multi-layered defense systems, monitoring, incident response, and compliance management. With a strong leadership team and a growing portfolio of services, Cycurion is dedicated to protecting its clients' most valuable digital assets across both the public and private sectors.
Cycurion's leadership team brings a wealth of experience from various sectors, including technology, finance, and cybersecurity:
Emmit McHenry , Chairman: Founder of NetCom Solutions International, which grew to nearly $300 million in revenue within six years, with operations in the U.S., UK, and South Africa. He also founded Network Solutions, which was later sold to SAIC. McHenry is a U.S. Marine Corps service-disabled veteran and has held executive positions at major firms like Allstate Insurance.
Kevin Kelly , CEO: Former CEO of Halo Privacy, a cybersecurity company, and Heidrick & Struggles, a leading executive search firm. He also served as CEO and President of North America for APP - Asia Pulp and Paper. Kelly holds an MBA from Duke University's Fuqua School of Business.
Alvin McCoy , CFO: Former Managing Partner of Quantum Capital Partners and President & CEO of The McCoy Group, LLC. McCoy managed over $75 billion in new debt origination at Merrill Lynch and has served on the boards of financial institutions with assets up to $5 billion. He holds an MBA in Finance from Duke University.
Key Facts About Cycurion:
Headquarters:
McLean, Virginia
R&D Center:
Tel Aviv, Israel
Staff:
80 highly skilled employees, with an impressive list of industry certifications
DoD Cleared Facilities
30% of employees hold Top Secret security clearances
45 large active contracts
2023 Year-End Revenue:
$19.6 million
Cycurion Security Platform : Powered by artificial intelligence (AI), Cycurion has developed an enhanced, multi-layered SaaS solution designed to protect clients' digital assets while minimizing false positives. This AI-driven platform continuously improves its threat detection and incident response capabilities, delivering effective defense in an increasingly complex and evolving cyber landscape.
About iQSTEL (Updated Oct. 2024):
iQSTEL Inc. (OTC-QX: IQST ) ( ) is a US-based multinational publicly listed company in the final stages of the path to becoming listed on NASDAQ. With FY2023 revenues of $144 million and a forecasted $290 million in revenue, alongside positive operating income of seven digits for FY-2024, iQSTEL is positioning itself for explosive growth. iQSTEL's mission is to serve basic human needs in today's modern world by making essential tools accessible, regardless of race, ethnicity, religion, socioeconomic status, or identity. The company recognizes that modern human needs such as physiological, safety, relationship, esteem, and self-actualization are marginalized without access to ubiquitous communications, financial freedom, clean, affordable mobility, and information.
iQSTEL has been building a strong business platform with its customers, and by leveraging this trust, the company is now beginning to sell high-tech, high-margin products across its divisions. iQSTEL is strategically positioned to achieve $1 billion in revenue by 2027 through organic growth, acquisitions, and high-margin product expansion.
Telecommunications Services Division (Communications):
Includes VoIP, SMS, International Fiber-Optic, Proprietary Internet of Things (IoT), and a Proprietary Mobile Portability Blockchain Platform.
Fintech Division (Financial Freedom):
Provides remittance services, top-up services, a MasterCard Debit Card, US bank accounts (no SSN required), and a Mobile App.
Electric Vehicles (EV) Division (Mobility):
Offers Electric Motorcycles and plans to launch a Mid-Speed Car.
Artificial Intelligence (AI) Services Division (Information and Content):
Features an enriched, immersive white-label proprietary AI-Enhanced Metaverse platform that provides access to products, services, entertainment, information, and customer support in a virtual 3D interface.
Cybersecurity Services:
Through a new partnership with Cycurion, iQSTEL will offer advanced cybersecurity solutions, including 24/7 monitoring, threat detection, incident response, vulnerability assessments, and compliance management, providing essential protection to telecommunications clients and beyond.
iQSTEL has completed 11 acquisitions since June 2018 and continues to develop an active pipeline of potential future acquisitions, further expanding its suite of products and services both organically and through mergers and acquisitions.
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. These statements are based on current expectations, estimates, and projections about our business based partly 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. This press release does not constitute a public offer of any securities for sale. Any securities offered privately will not be or have not been registered under the Act and may not be offered or sold in
the United States
absent registration or an applicable exemption from registration requirements.
Company Website
SOURCE iQSTEL
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