“Kyivstar plans to buy Uklon for $40-80 million: what is known about the deal
24 January 20:05
Kyivstar mobile operator is buying Uklon taxi service. This was reported by Komersant ukrainskyi with reference to Forbes Ukraine.
The media learned from representatives of the Antimonopoly Committee that the mobile operator has already submitted an application.
In December 2024, the AMCU received applications from Kyivstar for the acquisition of Ukrainian LLC Tech Uklon, Uklon Corporation, Uklon Ukraine, and Cyprus-based UKLON LTD.
The AMCU received an application for Kyivstar’s permission to acquire control (through Uklon Corporation LLC) over Uklon Ukraine’s assets, which ensure the implementation of road-hailing, delivery and online advertising activities.
Forbes Ukraine also estimated the current price of the company at $40-80 million.
In a comment to dev.ua, Kyivstar President Oleksandr Komarov confirmed the deal.
“Kyivstar continues to invest in innovative technologies and new services: the agreement with Uklon will be a logical step in building an integrated digital ecosystem, as well as an important stage in the inorganic growth and scaling of the business,” Komarov said.
At the same time, the mobile operator’s press service also confirmed that Kyivstar is considering the acquisition of Uklon, an IT company that develops an online platform for ordering transportation and delivery in Ukraine and Uzbekistan. The deal will allow Kyivstar to strengthen its services and build an integrated digital ecosystem. The deal opens up new opportunities for Uklon to develop and enter new markets. Kyivstar is also considering similar deals with other companies.
Uklon has received many acquisition offers, but none of them have been of interest to the company. According to Forbes Ukraine, the current price of Uklon could be between $40 million and $80 million. In December, Uklon announced its intention to launch bus transportation in its app and started operating at the Bukovel resort.
In addition, Kyivstar acquired medical startup Helsi and invested $3 million in its development. The company is also preparing to enter the US Nasdaq stock exchange through a merger with SPAC company Cohen Circle.
Anatoliy Frolenkov, a consultant on telecom, IT and media markets, notes that Nasdaq is a “Champions League” for technology companies.