Kyivstar To Acquire Cloud Infrastructure Provider GigaCloud In Transaction Valued At Up To $50M

Valued at up to USD 50 million, the acquisition will expand the secure, resilient digital infrastructure that Ukrainian businesses and public institutions need to operate, innovate and grow. It also accelerates VEON’s strategy to build cloud services for enterprise customers and reinforces Kyivstar’s long-term commitment to Ukraine’s digital economy.

Founded in 2016, GigaCloud is one of Ukraine’s leading cloud infrastructure providers, serving more than 1,800 enterprise customers and supporting digital transformation across a broad range of industries. Following completion of the transaction, GigaCloud will become a subsidiary of Kyivstar. Its expertise and strong reputation in cloud technology will be combined with Kyivstar’s financial strength and growth strategy to accelerate GigaCloud’s expansion and strengthen Ukraine’s digital infrastructure.

"Digital infrastructure is ultimately about people: the entrepreneurs building businesses, the teams delivering public services, and the families who depend on them. Kyivstar’s acquisition of GigaCloud strengthens the secure, resilient foundation Ukraine needs to keep growing and to give its people better opportunities," said Kaan Terzioglu, CEO of VEON Group.

The acquisition develops Kyivstar’s strategy to evolve from a telecommunications operator into a leading digital ecosystem and technology platform company. By expanding its presence in the fast-growing cloud computing sector, Kyivstar is seeking to create a powerful platform for enterprise IT compute, AI, cybersecurity, and data-driven solutions.

"This transaction is a significant step in executing Kyivstar’s long-term strategy to build Ukraine’s leading digital ecosystem. As demand for cloud computing, AI capabilities, and secure data infrastructure continues to grow, we see substantial opportunities to expand our presence in high-value digital services. GigaCloud has established itself as a trusted market leader with exceptional talent, proven technological expertise, and strong customer relationships. Together, we intend to accelerate the development of sovereign digital infrastructure, unlock new growth opportunities, and create a stronger, more diversified technology business positioned to deliver long-term value for all stakeholders," said Oleksandr Komarov, President of Kyivstar Group Ltd.

The purchase underscores Kyivstar’s commitment to expanding its digital business portfolio where recent acquisitions have included the acquisition of e-mobility operators Uklon and E-wings, clean energy companies Six Solar Power Plants and Sunvin, internet service provider Shtorm and digital healthcare company Tabkletki. Kyivstar is committed to support the development of Ukraine’s digital economy through long-term investments in infrastructure and innovation.