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George Soros' Ukrainian Redevelopment Fund to acquire significant stake in Ciklum

George Soros' Ukrainian Redevelopment Fund to acquire significant stake in CiklumUkrainian Redevelopment Fund LP, part of the fund of U.S. investor philanthropist George Soros, plans to acquire a significant stake in the charter capital of Ciklum IT company (Kyiv).

"The fund will acquire the stake which belongs to Horizon Capital, as well as an undeclared part of shares held by Majgaard Holdings Ltd. The transaction is expected to be completed by the end of 2015," the Ciklum press service reported.

The company has not disclosed the commercial details of the deal.

The press service told Interfax-Ukraine, referring to confidentiality, that the full composition of shareholders and their shares have not also been announced.

Ciklum is an international company engaged in software development and outsourcing IT services.

The company was founded in 2002 by Danish citizen Torben Majgaard (also CEO of the company) in Kyiv. It has offices in Ukraine, Britain, Switzerland, Denmark, Belarus, and Pakistan.

In Ukraine, Ciklum’s development centers are located in Kyiv, Lviv, Kharkiv, Dnipropetrovsk, Odesa, and Vinnytsia.

Horizon Capital became a minority shareholder in Ciklum in April 2012.
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