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Telecom Armenia

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(Redirected from Veon Armenia CJSC)
Telecom Armenia
Native name
Տելեկոմ Արմենիա
FormerlyArmentel (1995-2017)
VEON Armenia (2017-2020)
Beeline Armenia (2020-2022)
Company typeOJSC
IndustryTelecommunications
Founded1995 March
HeadquartersYerevan, Armenia
Key people
Hayk Yesayan (CEO)
ProductsFixed-line and mobile telephony, broadband and fixed-line internet services
Websitehttps://www.telecomarmenia.am/en

Telecom Armenia OJSC (Armenian: Տելեկոմ Արմենիա, romanized: Telecom Armenia) (formerly Armentel and VEON Armenia) is an Armenian broadband and telecommunications company. Telecom Armenia, an integrated telecommunications services operator, is headquartered in Yerevan.

History

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Team Telecom Armenia belongs to "TEAM" CJSC, which was founded by Armenian businessmen Hayk and Alexander Yesayan. In November 2020, "TEAM" CJSC (successor of "TEAM" LLC) acquired 100% shares of VEON Armenia" CJSC (Beeline), thus becoming the successor to the first telecommunications subsystem in Armenia. After the transaction, VEON Armenia was renamed to Telecom Armenia, which up to its rebranding[1] was acting under the trademark Beeline.

In 2021, the company in partnership with Nokia launched[2] the construction of unique in the region NGN network (Next Generation Network) with the speed of 25 Gb/s and 25G-PON technology. In 2022, the network became available in 7 major regional cities, 3 villages, as well as in Davtashen, Arabkir and Avan administrative districts of Yerevan.

"Telecom Armenia" OJSC has thoroughly re-equipped and improved the DWDM network, which served as an opportunity for actively penetrating into the Middle East market of transit network channels and sale of internet. Within a short time span, the company became one of the region's biggest exporters of transit network channels and internet to the Middle East. Currently, the company provides services to leading organizations in the field of telecommunications in more than 5 countries of the Middle East.

In order to build this network, improve access to high-speed Internet in the country and with the aim of supporting the growth of strong digital economy in Armenia in 2022 Team Telecom Armenia attracted funding of 45 million dollars[3] from international financial institutions like the International Finance Corporation (IFC) and the European Bank of Reconstruction and Development (EBRD), as well as Ameriabank.

In 2023, Telecom Armenia transitioned from CJSC to OJSC.[4] Telecom Armenia OJSC is the first telecommunications company in Armenia to conduct an initial public offering (IPO), becoming even more open and public. The company's shares are listed on the Armenian Stock Exchange.

Operations

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Team Telecom Armenia provides mobile connection of 2G (GSM), 3G (UMTS) and 4G (LTE) standard, fixed telephony services, provides Internet access with FTTH, FTTB, VDSL and ADSL technologies. The company also provides IPTV and OTT services of digital TV. Team TV subscribers have about 190 leading local and international TV channels on TV or mobile phone, and thanks to the catch-up function, the opportunity to watch the preferred program, film or TV program within 7 days after broadcast.

Through the company's My Team application,[5] subscribers can check balance and package balances with one touch, change tariff packages, activate automatic payments, as well as get acquainted with the latest news and promotions of Team Telecom Armenia and make purchases from the E-shop online store.

Starting from 2022, financial transactions can be made in the branches of the "Team Pay" CJSC (Team Pay) payment settlement company located in 18 offices of Team Telecom Armenia under "One window".

Controversy

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The merge and acquisition of Beeline Armenia to TEAM LLC is currently disputed in court,[6][7][8] initiated by Ucom, the competitor telecommunications company and the previous home of TEAM LLC's founders.[9] The Yerevan Court of General Jurisdiction proceeds the case of unfair competition committed by TEAM LLC. It is known, that in January 2020 VEON confirmed[10] discussions with Ucom LLC regarding a potential transaction in Armenia, however withdrew it in May 2020.[11] It is reported, that the knowledge of VEON deal is appropriated by TEAM LLC founders via violating employment terms.[12][13]

Corporate social responsibility

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Within the framework of corporate social responsibility, the company supports technological, educational and scientific, as well as environmental projects, promotes the creation and distribution of Armenian content, as well as initiatives encouraging team spirit.[14]

See also

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References

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  1. ^ New colors and new services: Team Telecom Armenia completes rebranding
  2. ^ Nokia and Telecom Armenia launch 25G PON ready network in Armenia
  3. ^ Team Telecom Armenia raises $45 million in funding
  4. ^ [https://news.am/eng/news/763451.html Team Telecom Armenia is undertaking its initial public offering (IPO) ]
  5. ^ My Team free app leads Armenia in downloads
  6. ^ "Ucom files lawsuit to prevent what it terms 'unfair competition' from Team LLC-VEON Armenia deal". www.telegeography.com. Retrieved 2022-09-09.
  7. ^ "The court awarded Ucom's motion to apply interim measure". www.ucom.am. Retrieved 2022-09-09.
  8. ^ Barton, James (2020-08-12). "Ucom files lawsuit to block Team's Beeline buy". Developing Telecoms. Retrieved 2022-09-09.
  9. ^ "Yesayan brothers seek to purchase VEON Armenia through new venture 'Team'". www.telegeography.com. Retrieved 2022-09-09.
  10. ^ VEON confirms discussions with UCom LLC regarding a potential transaction in Armenia https://www.veon.com/media/media-releases/2020/veon-confirms-discussions-with-ucom-llc-regarding-a-potential-transaction-in-armenia/
  11. ^ VEON withdraws from discussions with UCom CJSC related to potential transaction in Armenia https://www.veon.com/media/media-releases/2020/veon-withdraws-from-discussions-with-ucom-cjsc-related-to-potential-transaction-in-armenia/
  12. ^ "Ucom management staff resign: media". PanARMENIAN.Net. Retrieved 2022-09-09.
  13. ^ "Armenian Telecom Firm's CEO, Employees 'Quit In Protest'". «Ազատ Եվրոպա/Ազատություն» ռադիոկայան (in Armenian). Retrieved 2022-09-09.
  14. ^ Team Telecom Armenia awarded Koreez-2022 winners with prizes; [1]; [Team Telecom Armenia Becomes Technological Partner of Sevan Startup Summit]; [2]
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