Kyivstar acquires Ukrainian cloud provider GigaCloud for nearly $50 million
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Kyivstar, the parent company of Ukraine's largest mobile operator, has signed an agreement to acquire GigaCloud, one of Ukraine's leading cloud infrastructure providers, for up to $50 million, Kyivstar announced.
The acquisition reflects Kyivstar's ambition to build a broader digital ecosystem beyond its core telecommunications business. In March 2025, the company acquired ride-hailing platform Uklon for $155 million. Kyivstar also owns a majority stake in health-tech platform Helsi and has pursued other digital-sector acquisitions.
"GigaCloud brings to Kyivstar a well-established cloud business, cloud engineering expertise, R&D capabilities and an experienced team," said Oleksandr Komarov, CEO of Kyivstar, said in a press release.
Founded in 2016, GigaCloud serves more than 1,800 corporate customers, including agricultural holding Kernel and state-owned energy company Naftogaz. The company provides cloud infrastructure and related services to businesses and public-sector organizations.
"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," Komarov said.
"This acquisition advances our digital strategy while supporting Ukraine’s long-term infrastructure need."
According to unaudited management accounts cited in Kyivstar's announcement, GigaCloud generated approximately $14 million in revenue and $4.7 million in earnings before interest, taxes, depreciation and amortization (EBITDA) in 2025.
The deal includes a $41 million acquisition price, up to $4 million in deferred debt obligations, around $3 million in performance-related payments and up to $2 million in capital expenditure reimbursements, subject to the agreement's terms.
In June 2025, Kyivstar also launched Kyivstar Cloud, its own cloud service for businesses and public-sector organizations.
In July 2026, Ukraine's Antimonopoly Committee approved Kyivstar's acquisition of control over GigaCloud, subject to commitments designed to preserve competition. These include ensuring customers can use GigaCloud's services independently of their internet provider and without being required to purchase other Kyivstar services.
