The largest Ukrainian telecommunications company Kyivstar is acquiring one of Ukraine’s largest cloud providers GigaCloud. According to Forbes Ukraine’s analytical department, GigaCloud could be worth about $10 million.
The largest Ukrainian telecommunications company Kyivstar is acquiring one of Ukraine’s largest cloud providers GigaCloud. According to Forbes Ukraine’s analytical department, GigaCloud could be worth about $10 million.
Earlier, dev.ua sources reported that at a meeting with GigaCloud employees, it was announced that 80% of the company would be sold to the mobile operator Kyivstar.
«An application has been submitted to the AMCU. As the largest Ukrainian cloud provider, over the past 20 months GigaCloud has been considering many opportunities to attract investment to implement our most ambitious and innovative plans,» commented GigaCloud CEO Nazariy Kurochko, who owns 45% of the company’s shares.
One of dev.ua’s interlocutors noted that deals in this market are typically valued at 2.5-3x EBITDA (Earnings before Interest, Taxes, Depreciation and Amortization). According to his calculations, GigaCloud could have been valued at $12-15 million.
Other figures are provided by the CEO of cloud services provider DeNovo, Maksym Ageyev. In a comment to Forbes Ukraine, he indicated that the lowest estimate is 5-6x EBITDA.
«The payback period for investments in this business is up to five years. That’s why you invest a lot of money in CAPEX and work it out for a long time,» Ageev said.
According to Forbes Ukraine, GigaCloud’s EBITDA is UAH 95 million over the past 12 months. In 2024, the figure was UAH 49 million. Thus, the value of GigaCloud is about $10 million, the publication calculated.
