Ciklum
Owners:
Ukrainian Redevelopment Fund LP
Ciklum is a participant in the market for outsourcing of technical specialists and teams, software development and advising business representatives on agile development methods. The company's offices and technical development centers in Ukraine and Belarus employ over 2.5 thousand specialists.
Unlike the traditional outsourcing model, Ciklum helps over 200 customers create their own development centers in neighboring countries where Ciklum centers are located, in which customers outsource software development in full or in part. As of November 2015, Ciklum is one of the five largest software manufacturers in the Ukrainian market.
2021: CN Group IT Purchase
At the end of August 2021, the sale of CN Group to IT company Ciklum was announced. The latter made a deal with the investment fund Genesis Capital, which previously owned the CN Group. The financial component of the agreement is not disclosed. More details here.
2015: Sale of Ciklum's stake to investor George Soros
On November 18, 2015, it became known that the Ukrainian Redevelopment Fund LP of American investor George Soros is buying a stake in Ciklum. This transaction, which is planned to be closed before the end of 2015, is reported on the website of the Ukrainian software manufacturer.
According to the released data, the Ukrainian Redevelopment Fund buys Ciklum shares owned by Horizon Capital and Majgaard Holdings. The latter is owned by the founder and head of Ciklum Torben Majgaard.
The value of the transaction is not disclosed, as well as the share received by the Ukrainian Redevelopment Fund. It is only noted that we are talking about "significant" investments.
After the appearance of a well-known American investor among the shareholders of Ciklum, the companies may consider the issue of an initial public offering of their shares. Ciklum noted that during the operation, over 25 customers of the company entered the exchange and became public.
"I am extremely pleased with my investment in Ciklum. This is a very dynamic company in the market that will lead Ukraine into the future. I invest in what I call "New Ukraine" - young, well-educated Ukrainians who want their country to break out of the past and achieve an open society. I hope that my investments will serve as an example for other investors, "said George Soros.
Financier and investor George Soros is known for creating a network of charitable organizations called the Soros Foundation. In November 2015, President of Ukraine Petro Poroshenko presented him with the Order of Freedom for personal merits in strengthening the international authority of the Ukrainian state.[1]
Notes
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