VEON’s Kyivstar Acquires GigaCloud, Expanding Cloud Services for Ukrainian Businesses
Key Highlights
- ➤Kyivstar to acquire GigaCloud for up to USD 50 million
- ➤GigaCloud serves more than 1,800 enterprise customers across Ukraine
- ➤GigaCloud operates five data centers across Ukraine and Poland
- ➤Kyivstar expands into cloud computing, AI, cybersecurity, and data solutions
Expert Statements
Kaan Terzioglu, CEO of VEON Group
“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.”
Oleksandr Komarov, President of Kyivstar Group Ltd.
“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.”
Acquisition of GigaCloud, valued at up to USD 50 million, expands secure, resilient cloud infrastructure for Ukrainian businesses and public institutions
New York, Dubai & Kyiv, 29 October 2026 – VEON Ltd. (Nasdaq: VEON), a global digital operator (“VEON” or the “Company”), today announces that its Ukrainian digital operator Kyivstar (Nasdaq: KYIV; KYIVW) (the “Company” or “Kyivstar”) is to acquire GigaCloud, one of Ukraine’s leading cloud infrastructure providers. 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.
Get started
Create a free account to read the full story.