VEON announces acquisition of cloud service provider IBS DataFort

Rhea-AI Summary

VEON Ltd. has acquired IBS DataFort, a prominent cloud IT infrastructure provider. This acquisition, executed through VEON's VimpelCom subsidiary, enhances Beeline's cloud service offerings in Russia. IBS DataFort, established in 2001, is recognized for managed cloud services. The integration will bolster Beeline's market position and enable the development of innovative products in cloud, cybersecurity, and Big Data. CEO Kaan Terzioglu emphasized that this move supports VEON's digital operator strategy and technological expansion.

Positive

• Acquisition of IBS DataFort enhances Beeline's cloud service portfolio.
• Expected growth in market position in the Russian cloud services sector.
• Collaboration on new products in cloud, cybersecurity, Big Data, and IoT.

Negative

• None.

AMSTERDAM, Dec. 17, 2021 /PRNewswire/ -- VEON Ltd. (NASDAQ: VEON) (Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, has acquired IBS DataFort a cloud IT infrastructure provider. The acquisition was made by VEON's VimpelCom Russian subsidiary that runs the Beeline mobile operator brand and IBS DataFort will be integrated into Beeline's BeeCLOUD business unit.

IBS DataFort is a fast-growing provider of IT and security services and is one of the largest and fastest growing cloud computing companies in Russia. The company has been in the information technology market since 2001 and offers managed private, public and hybrid cloud services to address a full range of business needs. 

The acquisition will enable VEON's Beeline mobile operator in Russia to expand its portfolio of cloud services for business customers while also becoming one of the leading players in the market. Beeline also plans to jointly develop new products and integrated solutions at the intersection of cloud, cybersecurity, Big Data analytics and IoT.

"Augmented intelligence, based on big data, is a foundation of all the products that we offer to our business customers and a key enabler of our digital operator strategy," said Kaan Terzioglu, CEO of VEON Group. "The acquisition of IBS DataFort will enable us to expand our technological capabilities by bringing together our internal expertise and connectivity assets with the know-how and proven performance of IBS DataFort ."

About VEON   
VEON is a NASDAQ and Euronext Amsterdam-listed global provider of connectivity and digital services. Our companies are transforming lifestyles through technology-driven services that empower opportunity in some of the world's fastest-growing emerging markets. For more information, visit: https://www.veon.com   

Disclaimer   
This release contains "forward-looking statements", as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, the potential benefits of the transaction described above. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events.  

Media Contact Information:
VEON Group
Group Communications Director
Marina Levina
Marina.levina@veon.com

ALEX BROOKS
PARTNER
M +44 7900 205 460
tuvapartners.com

 

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SOURCE VEON Ltd

FAQ

What was the purpose of VEON's acquisition of IBS DataFort?

The acquisition aims to expand Beeline's cloud service offerings and improve its market position in Russia.

When did VEON acquire IBS DataFort?

The acquisition was announced on December 17, 2021.

How will the acquisition impact VEON's business?

It will enhance technological capabilities and facilitate the development of innovative products and integrated solutions.

What services does IBS DataFort provide?

IBS DataFort offers managed private, public, and hybrid cloud services tailored for various business needs.

Which subsidiary of VEON executed the acquisition?

The acquisition was made by VEON's VimpelCom subsidiary, which operates the Beeline brand.