The Antimonopoly Committee of Ukraine (AMCU) has allowed Ukraine’s largest mobile operator Kyivstar to acquire control over one of the country’s leading cloud providers, GigaCloud. The relevant decision was adopted at a committee meeting on July 9, completing an almost ten-month approval process during which the operator had to reapply for permission after the regulator’s initial refusal.
According to the AMCU decision, Kyivstar received approval to acquire control over GigaCloud LLC, which operates under the GigaCloud brand. The transaction provides for the conclusion of a corporate agreement between Kyivstar and the company’s current shareholders — Nazlami Limited, Telliani Limited and Zvityaga Limited, which own 48.43%, 20.42% and 31.15% of the cloud provider’s capital, respectively.
Kyivstar has been attempting to acquire GigaCloud since September 2025. The operator submitted its first application for concentration approval to the AMCU on September 19 last year, but in October the committee refused to grant it. After that, the company prepared an updated package of documents and reapplied to the regulator on October 24. In January 2026, the AMCU accepted the application for review and has now finally approved the transaction.
The acquisition of GigaCloud will allow Kyivstar to significantly strengthen its position in the rapidly growing market for cloud services and digital infrastructure, expanding its portfolio of corporate services for businesses and public-sector clients. The development of cloud technologies is one of the key areas of digital transformation in Ukraine’s economy, while demand for data storage and processing services continues to grow due to the digitalization of business and the public sector.
GigaCloud is one of the largest providers of cloud solutions in Ukraine. The company provides virtual infrastructure, data storage and backup services to corporate clients. Its customers include agricultural holding Kernel, the public procurement system Prozorro, Kyiv’s TSUM department store and other large enterprises and organizations.
According to YouControl, the company’s ultimate beneficial owners are Ukrainian entrepreneurs Oleh Polishchuk, who controls 31.15% of the business, and Nazarii Kurochko with a 44.93% stake.
GigaCloud’s financial indicators demonstrate strong growth. In 2025, the company’s revenue increased by 37.1% year-on-year to UAH 561.4 million, while net profit grew almost 3.8 times, exceeding UAH 130 million.
On July 8, shortly before receiving approval for the transaction, GigaCloud announced the launch of Ukraine’s first sovereign cloud — specialized infrastructure for storing and processing data in full compliance with Ukrainian legislation. The new solution is aimed at government agencies, critical infrastructure facilities, the financial sector, defense industry enterprises, healthcare institutions and energy companies, for which data localization and information security are particularly important. The launch of such a service reflects growing demand for national cloud infrastructure and may become one of the drivers of further development of Ukraine’s cloud technology market.
