AVELLUM advises GigaCloud Founders on investment transaction with Kyivstar

AVELLUM acted as legal counsel to the founders of GigaCloud, one of Ukraine’s leading cloud infrastructure providers, on its acquisition by Kyivstar Group Ltd. (Nasdaq: KYIV; KYIVW), Ukraine’s leading digital operator and part of VEON Group. The transaction is valued at up to USD 50 million.

The new investment will strengthen Kyivstar’s enterprise technology offering by combining connectivity, cloud infrastructure and cybersecurity services, while supporting the development of sovereign cloud infrastructure and AI-enabled services in Ukraine. GigaCloud is expected to retain its brand and management team.

AVELLUM provided comprehensive legal support throughout the transaction, including negotiation of commercial and legal terms, preparation of transaction documentation, coordination of legal workstreams, and support through completion.

“GigaCloud has built a strong business in a strategically important sector. We are pleased to have supported its founders on this transaction, which demonstrates continued interest in Ukraine’s technology sector and creates opportunities for further development of its digital infrastructure,” commented Yuriy Nechayev, partner at AVELLUM.

“AVELLUM provided excellent support throughout the transaction. The team of AVELLUM in cooperation with GigaСloud’s CLO Maksym Kurochko and the team of MK Legal Service managed the process exceptionally well, keeping everything organised, anticipating issues and always being available. What we appreciated most was the AVELLUM team’s pragmatic approach: they focused on protecting our key interests without unnecessarily complicating or delaying the deal. Their professionalism, responsiveness and commercial judgment made a real difference,” commented Nazariy Kurochko, CEO and Co-Founder of GigaCloud.

The AVELLUM team was led by partner Yuriy Nechayev, with counsel Oleksandr Kozhukhar, associates Olha Rudevych and Mykhailo Petrenko. Merger control aspects (sell-side) were handled by partner Mykyta Nota, counsel Anton Arkhypov, senior associate Veronika Humeniuk and associate Yuliia Bulenok.