OTP BANK: Kyivstar Group and GigaCloud deal opens new opportunities for the development of Ukraine’s digital infrastructure
JSC OTP BANK acted as the servicing bank for a major investment transaction involving the acquisition of cloud infrastructure provider GigaCloud by Kyivstar Group Ltd.
"Kyivstar Group Ltd. and GigaCloud are combining their expertise and investment capabilities to advance local cloud and AI infrastructure, as well as digital services for businesses. OTP BANK acted as the servicing bank for this transaction. For us, this is not only participation in a significant market event, but also a confirmation of the trust placed in us by leading Ukrainian technology companies," said Volodymyr Mudryi, CEO of OTP BANK.
This is already the third transaction by Kyivstar Group Ltd. in which the company has chosen OTP BANK as its partner. The Bank highly values this cooperation and the opportunity to support businesses in implementing their strategic plans and contributing to the development of Ukraine’s economy.
One of Ukraine’s leading digital operators, Kyivstar Group Ltd., announced the acquisition of cloud infrastructure provider GigaCloud. The total value of the transaction amounts to up to UAH 2,276,900,000 (up to USD 50 million).
As emphasized by Kyivstar Group Ltd., this investment expands the company’s technological capabilities for the corporate sector by combining connectivity services, cloud infrastructure, and cybersecurity solutions to help businesses and public institutions accelerate their digital transformation. GigaCloud further strengthens these capabilities through its extensive corporate customer base, deep cloud technology expertise, and infrastructure located in Ukraine and Poland.
The transaction also enhances Kyivstar Group’s capabilities in the field of sovereign cloud infrastructure and lays the groundwork for the further development of artificial intelligence-based services tailored to the needs of Ukrainian businesses and public institutions.
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Public Joint Stock Company OTP Bank is a subsidiary of OTP Bank, which is the largest independent Central-Eastern-European banking group. JSC OTP Bank is one of the largest domestic banks, a recognized leader in the financial sector of Ukraine. The Bank provides a full range of financial services to corporate and private customers, as well as to small and medium enterprises. The bank entered the Ukrainian market in 1998, and since then it enjoys a staunch reputation of socially responsible, reliable and stable institution providing its consumers with services of European quality standard.
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