Veon’s Ukrainian operator Kyivstar says it has acquired local ride-hailing and delivery platform Uklon in a deal valued at US$155.2 million to expand its digital consumer services portfolio.
Under the deal announced on Wednesday, Kyivstar will acquire 97% of Uklon shares. Kyivstar said the purchase aligns with Veon’s digital operator strategy. The deal is still subject to the usual closing conditions and approvals.
Uklon operates in 27 cities across Ukraine, with over 100,000 driver-partners on the platform. Kyivstar said Uklon registered over 100 million rides and more than 3 million deliveries in 2024. The company expanded into Uzbekistan in 2023, where Veon’s Beeline Uzbekistan also operates.
According to preliminary unaudited figures released by Veon on Thursday, Uklon pulled in US$65 million in revenues in FY2024, with a CAGR of 30% from FY2021 to FY2024.
Once the deal closes, Uklon CEO Serhii Hryshkov is expected to retain his position, where he will continue developing the company's products and services in Ukraine and other markets.
Kaan Terzioglu, CEO of Veon Group and chairman of Kyivstar Supervisory Board, said Veon will explore expanding Uklon beyond Ukraine and Uzbekistan via its digital operators in Kazakhstan, Pakistan and Bangladesh.
Uklon co-founder Dmytro Dubrovsky added, “We have always had ambitions to move forward, both into new market verticals in Ukraine and into new geographies, and I am confident that now, with the support of Kyivstar, Uklon will have more opportunities and expertise to further improve our service in a way that provides additional value to all our users and partners.”
