Kyivstar, Ukraine’s largest telecommunications operator, announced that it had acquired cloud infrastructure company GigaCloud to strengthen its ability to provide cloud services to businesses. The acquisition is reportedly valued at approximately UAH 2.289 billion, or about $50 million.
Kyivstar Group Ltd. of Ukraine said it plans to enhance its ability to provide cloud solutions for businesses by acquiring GigaCloud, a cloud infrastructure provider. The acquisition was announced at approximately UAH 2.289 billion (approximately $50 million).
The information was based on a press release reported by Interfax-Ukraine, which quoted Kyivstar President Oleksandr Komarov. The acquisition is positioned as part of the company’s domestic and international cloud strategy.
The press release said that Kyivstar had signed a memorandum of understanding with the Ministry of Economy and planned to build large-scale computing infrastructure for AI in Ukraine. It also outlined plans supported by initial funding from VEON to strengthen data sovereignty and security in both the civilian and military spheres.