Horizon Capital announced today that it has increased its stake in Datagroup, a leading independent telecom operator in Ukraine, from significant minority to over 70%. Following completion of this transaction, Horizon Capital has assumed operational control of the company. The financial details of the transaction were not disclosed. As a result of the deal, minority shareholder and the previous CEO of DataGroup Aleksander Kerdakov resigned, and Mykhailo Shelemba (former consultant of McKinsey) became the CEO.
To remind, Horizon Capital invested around USD 40mln into Datagroup purchasing 25-30% of the company shares back in 2010. Datagroup, founded in 2000, is a leader in the segment of VSAT satellite communication in Ukraine and the CIS.
Lenna Koszarny, Horizon Capital’s Founding Partner and Chief Executive Officer, commented on the deal: “We are very pleased to increase our stake to a significant majority position in a company that we believe in and are proud to back. Horizon’s additional financial commitment, together with the appointment in July of highly-respected McKinsey senior manager with strong telecom expertise Mykhailo Shelemba as Chief Executive Officer, truly mark the start of an exciting chapter for Datagroup. The Company has achieved significant results to date, with leading positions in business-to-business data transmission, international traffic and satellite communication services. Its services are delivered via an unrivaled infrastructure, including over 19,000 kilometers of fiber-optic cable. We look forward to Datagroup continuing to offer value-added solutions and services to its esteemed clients and introducing innovative new products and technologies to the market.”
Mykhailo Shelemba, Datagroup Chief Executive Officer, said: “I am truly honored to lead Datagroup at the dawn of a new era. I want to thank our valued clients across Ukraine, our superb team and committed shareholders for contributing to Datagroup’s success over the last 16 years. Flexibility and customer focus have always been at the core of our DNA. Evolving with the market, we are becoming more agile, innovative and efficient. We look forward to expanding our product line with a focus on new value-added services and end-to-end solutions for our clients. I am confident that the talented Datagroup team, the trusted partnerships with our customers and strong backing of Horizon Capital, will take the Company to the next level of development, efficiency and profitability.”
