Kyivstar has successfully completed the acquisition of 97% of the corporate rights of Ukrainian technology service Uklon, which provides online taxi booking and delivery services, for $155.2 million (USD 155.2 million). The transaction was officially closed on April 2, 2025, following the fulfillment of standard conditions and receipt of all required approvals.
- Kyivstar acquired 97% of Uklon’s shares, while 3% remain with co-founder Vitalii Diatlenko.
- The total deal value amounts to $155.2 million, paid in hryvnia with subsequent conversion.
- All applicable taxes — 23% (including the military levy) — will be paid to the State Budget of Ukraine.
- 12% of the proceeds will be distributed among Uklon employees who participated in the company’s incentive program.
Uklon CEO Serhii Hryshkov will remain in his position and continue leading the development of the company’s services.
Uklon’s Supervisory Board now includes representatives from both companies: from Kyivstar — Oleksandr Komarov (CEO), Zoia Dronshkevych (Business Development Director), and Borys Dolhushyn (CFO), as well as Uklon co-founders Serhii Smus and Vitalii Diatlenko.
About Uklon — Market Position and Scale
Uklon operates in 27 cities across Ukraine and partners with more than 100,000 drivers on its platform.
In 2024, the service completed over 100 million rides and 3 million deliveries.
The company has expanded its operations to Uzbekistan, where it already operates in the ride-hailing and delivery market.
Founded in 2010 as a Ukrainian startup, Uklon operated for many years without external investment, successfully competing with global players.
Management Commentary
Oleksandr Komarov, CEO of Kyivstar:
“The deal with Uklon is an important strategic step for Kyivstar on its path toward becoming a modern digital operator. We plan to further develop ride-hailing and delivery services, launch new products, and expand into international markets, strengthening the competitive advantages of both companies.”
Dmytro Dubrovskyi, co-founder of Uklon:
“We are pleased that Uklon will continue its development with a new strategic investor. This will help strengthen the company’s position and reach a new level both in Ukraine and internationally.”
Strategic Context and Future Plans
Diversification and Digital Strategy. The acquisition of Uklon is part of a broader strategy by Kyivstar and its parent company VEON Group to transform the telecom operator into a digital services business, expanding beyond connectivity into areas such as medical platforms, transportation, and logistics services.
International Expansion. The company plans to leverage Uklon’s capabilities in new markets through VEON’s digital operators in Kazakhstan, Pakistan, Bangladesh, and potentially other regions.
IPO and Nasdaq. According to certain sources, the acquisition of Uklon forms part of Kyivstar’s strategy to pursue a listing on the U.S. Nasdaq exchange as a modern digital company with a broader services ecosystem.
Significance of the Deal for the Market
This is one of the largest technology deals in Ukraine in recent years and an important indicator of confidence in the Ukrainian IT market. The acquisition demonstrates that local technology companies are capable of building competitive products that can attract major strategic investors.
