Kyivstar Acquires GigaCloud for $50M to Boost Cloud Services

Kyivstar, Ukraine's leading digital operator and part of VEON Group, trading on Nasdaq under the tickers KYIV and KYIVW, announced the acquisition of GigaCloud, a prominent cloud infrastructure provider in the region, in a transaction valued at up to USD 50 million.

The acquisition combines GigaCloud's enterprise cloud expertise with Kyivstar's connectivity, customer reach, and investment capacity. This strategic move aims to accelerate digital transformation for businesses and public institutions by offering integrated connectivity, cloud infrastructure, and cybersecurity services.

Acquisition Highlights

• Valued at up to USD 50 million, including a USD 41 million acquisition price.
• GigaCloud generated approximately USD 14 million in revenue and USD 4.7 million in EBITDA in 2025.
• GigaCloud serves more than 1,800 enterprise customers across Ukraine and Poland.
• GigaCloud will operate as a separate business unit within Kyivstar Group, retaining its brand and management team.