Kyivstar Group Signs Agreement to Acquire GigaCloud, Expanding Enterprise Cloud Capabilities
Key Highlights
- ➤GigaCloud acquisition valued at up to USD 50 million
- ➤GigaCloud generated approximately USD 14 million revenue and USD 4.7 million EBITDA in 2025
- ➤Transaction expected to be immediately accretive to Kyivstar’s earnings and cash flow
- ➤Approximately USD 5 million consideration tied to performance and capital investment milestones
- ➤GigaCloud serves more than 1,800 enterprise customers across Ukraine and Poland
Expert Statements
Oleksandr Komarov, President of Kyivstar Group Ltd.
“GigaCloud brings to Kyivstar a well-established cloud business, cloud engineering expertise, R&D capabilities and an experienced team. By combining these capabilities with our connectivity, customer reach and investment capacity, we can help more businesses modernize their operations and build a larger enterprise technology business. This acquisition advances our digital strategy while supporting Ukraine’s long-term infrastructure need”
Nazariy Kurochko, Chief Executive Officer and Co-Founder of GigaCloud
“We have built GigaCloud on the trust of our customers and the expertise of our team. Together with Kyivstar, we will be able to accelerate investment in our infrastructure, expand our market reach, and continue delivering the high-quality services our customers expect”
Anton Khvastunov, Co-Founder of GigaCloud
“As demand for sovereign cloud solutions continues to grow, this partnership strengthens our ability to scale secure cloud services and contribute to Ukraine’s digital development”
KYIV, Ukraine and NEW YORK, Oct. 27, 2026 (GLOBE NEWSWIRE) -- Kyivstar Group Ltd. (Nasdaq: KYIV; KYIVW) (“Kyivstar”), Ukraine’s leading digital operator and part of VEON Group (Nasdaq: VEON), today announced the acquisition of GigaCloud, one of Ukraine’s leading cloud infrastructure providers, in a transaction valued at up to USD 50 million.
The investment expands Kyivstar’s enterprise technology offering by combining connectivity, cloud infrastructure, and cybersecurity services to help businesses and public institutions accelerate their digital transformation. GigaCloud contributes a strong enterprise customer base, cloud expertise, and infrastructure spanning Ukraine and Poland. The transaction also strengthens Kyivstar’s capabilities in sovereign cloud infrastructure and creates a platform for the future development of AI-enabled services tailored to the needs of Ukrainian businesses and public institutions.
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