Kyivstar Agrees to Acquire GigaCloud in Deal Valued at Up to $50 Million

Kyivstar Group Ltd. agreed to acquire GigaCloud, one of Ukraine's leading cloud infrastructure providers, in a transaction valued at up to $50 million, TradingView reported. Kyivstar is Ukraine's largest telecommunications operator and a Nasdaq-listed digital ecosystem provider. GigaCloud, founded in 2016, serves more than 1,800 enterprise customers with cloud infrastructure in Ukraine and Poland.

Kyivstar's Up to $50 Million GigaCloud Deal

The transaction comprises a $41 million acquisition price, up to $4 million in deferred non-adjustable debt, approximately $3 million in performance-related consideration and up to $2 million in reimbursement for capital expenditure. About $5 million of the total consideration is linked to future performance and capital investment milestones. Completion is subject to customary closing conditions.

GigaCloud generated approximately $14 million in revenue and $4.7 million in EBITDA in 2025 on an unaudited management-accounts basis, an EBITDA margin of approximately 34%. Kyivstar said the deal is expected to be immediately accretive to earnings and cash flow. "GigaCloud brings to Kyivstar a well-established cloud business, cloud engineering expertise, R&D capabilities and an experienced team," said Oleksandr Komarov, President of Kyivstar Group Ltd.

Following completion, GigaCloud is expected to operate as a separate business unit within Kyivstar Group, retaining its brand and management team, with its founders expected to continue leading the business. No changes to existing customer contracts, service levels or commercial terms are planned. GigaCloud and Cubbit announced a Business Alliance Partnership in August 2026 to deliver sovereign, resilient S3 cloud storage services to organizations in Ukraine and Poland, according to Joomag.

Kyivstar's Recent Acquisition Record

Kyivstar acquired 105 MW of solar power plants in the Lviv region for $80.8 million in May 2026, according to akta.pro company records. The same records show the company acquired Tabletki.ua, Ukraine's largest digital pharmacy marketplace, for $160 million in February 2026. Kyivstar completed a $1.3 billion VEON-Kyivstar investment program for Ukraine covering 2023 to 2026 in April 2026, exceeding the original $1 billion commitment by 30% ahead of schedule.

Earlier Kyivstar Moves

Kyivstar appointed Volodymyr Lutchenko as Chief Operating Officer effective October 2, 2026, Telecompaper reported; he had led the company's technical division since 2021. Kyivstar said in September 2026 that it will fully integrate Boryspil-based internet provider LanTrace, which it bought in 2024 for $2 million, with LanTrace customers served directly by Kyivstar from October 1 with no contract changes or tariff adjustments, dev.ua reported. Kyivstar began testing 5G services in Odessa in September 2026, making it the fifth city covered by its 5G network, Telecompaper reported.