The largest national electronic communications operator Kyivstar and IT product company Uklon, a developer of an online platform and car ordering application, have successfully completed the closing process of the deal to purchase 97% of Uklon’s corporate rights. The deal amounted to $155.2 million.
The largest national electronic communications operator Kyivstar and IT product company Uklon, a developer of an online platform and car ordering application, have successfully completed the closing process of the deal to purchase 97% of Uklon’s corporate rights. The deal amounted to $155.2 million.
After the closing of the transaction, Kyivstar and Uklon will remain separate businesses, and the company’s team, led by Uklon CEO Serhiy Grishkov, will continue to work on the development of the company’s products and services in Ukraine and other markets. 3% of Uklon’s corporate rights will remain in the ownership of Vitaliy Dyatlenko, one of the company’s co-founders.
«The agreement with Uklon is an important strategic step for Kyivstar on the path to creating a modern digital operator. We are betting on Uklon’s talented team and promising business, which have already proven their effectiveness in the market. Our goal, as a strategic investor, is to develop existing online car ordering and delivery services, implement new solutions and services, and enter international markets, strengthening the competitive advantages of both companies,» comments Oleksandr Komarov, CEO of Kyivstar.
«A week ago, Uklon celebrated the 15th anniversary of its first order and its founding. Currently, Uklon is not only the market leader in Ukraine, but also an integral part of the success story of the Ukrainian technology business. Speaking on behalf of all the co-founders of the company, we are very pleased that Uklon will continue its development with a new powerful strategic investor — Kyivstar. We are confident that this will mutually strengthen the positions of the companies and help Uklon reach a new level both in Ukraine and abroad,» noted Dmytro Dubrovsky, co-founder of Uklon.
Uklon’s corporate governance will be carried out by the Supervisory Board under the leadership of Oleksandr Komarov, CEO of Kyivstar. The governing body will include representatives of both companies, in particular, Zoya Dronshkevych, Kyivstar’s Business Development Director, Borys Dolgushyn, Kyivstar’s CFO, and Uklon co-founders Serhiy Smus and Vitaliy Dyatlenko.
«This is a significant event for our company and for all Ukrainian business. Our team is pleased to complement the digital ecosystem of Kyivstar and Veon Group with its unique expertise, innovation, and dynamic driving culture. I am confident that the positive effect of technological and product synergy, additional investments, and the competence of our teams will allow Uklon to successfully implement further ambitious development plans in Ukraine and in new markets,» added Serhiy Grishkov, CEO of Uklon.
