Wednesday, August 16 2023 18:33

ArmInfo. The LogX team became the winner of the CaseKey 2023 business problem solving initiative competition, offering the best solutions for the strategic  development of the Team Telecom Armenia telecommunications operator  in the context of the latter's IPO undertaking. As a result, the LogX  team will receive shares in Team Telecom Armenia.

According to the press service of the company, 22 teams took part in  the competition, of which only 6 managed to get into the final stage  of the competition. The teams were given 72 hours to solve the  problem.  The winning team's proposal was related to working in the  cloud gaming market. Thanks to this solution, the company's customers  will be able to play digital games without overloading the computer  and without buying game consoles.

Team Telecom Armenia Commercial Director Karen Shaboyan, who was also  a member of the jury, emphasized the importance of involving young  professionals in such large projects. <This case was unique and at  the same time complex in its content, since there are few companies  in Armenia, which went IPO, and Team Telecom Armenia is the first in  the field of telecommunications. The solutions proposed by the  winning team were realistic and practical. In the future, we will  hold more detailed discussions to implement the proposals of the  participants>, he said. According to the source, before the main  CaseKey competition, teams participate in trainings throughout the  year and learn how to solve business segment problems.

Project founder Arshak Karapetyan noted that the case presented by  Team Telecom Armenia is not only educational, but also an example of  the right business culture, which should be "contagious" for other  entrepreneurs in Armenia. "Every big initiative should have not only  financial, but also social importance," he said.

The jury members of the final stage of the competition were Ara  Chalabyan, lecturer at the American University of Armenia and  President of the Institute of Internal Auditors-Armenia, Karen  Shaboyan, Commercial Director of Team Telecom Armenia, and Marianna  Gyulumyan, Chief Financial Officer at Team LLC., Garegin Gevorgyan,  Director of the Financial Stability Directorate of the Central Bank  of the Republic of Armenia, and JI PEPSI-COLA BOTTLER  General  Director Vladimir Danielyan.

In June of this year, "Telecom Armenia" OJSC (trademark: Team Telecom   Armenia) undertook its initial public offering (IPO).  The company   allocated 40 million stocks with a total volume of 8 billion 240   million drams. The offering will be carried out from 7 June to 31   October of this year inclusively.  The nominal value of one share is   100 drams, and the offering price is set at 206 drams. Ameriabank   acted as Lead Arranger for the offering. The company will use the   raised funds for the rollout of the fiber optic NGN network   throughout Armenia, the launch of the 5G mobile network and the   activation of new international channels. Being engaged in the field   of digital technologies, the company will also pay huge attention to   the introduction of modern digital tools and solutions and the   implementation of other ambitious projects.

Team Telecom Armenia is a completely Armenian brand and a powerful   team of thousands of professionals. Team provides Internet, digital   television, mobile and fixed communication services throughout the   Republic of Armenia.  As the successor of the first telecommunication   system in Armenia, "Team" combines the rich experience of the first   communication operator with modern technologies.  Since 2021, the   company has begun construction of a unique NGN (Next Generation   Network) in the region with a speed of 25 Gb/s with 25G-PON   technology. In the near future, mobile stations operating throughout   Armenia will be connected to this network.  Team Telecom Armenia also  provides GSM 900/1800, 3G (UMTS) and 4G (LTE) mobile communications,   fixed telephony, IPTV and OTT digital television services as well as   Internet access using FTTH, FTTB, VDSL and ADSL technologies.  Within   the framework of corporate social responsibility programs, Team   implements projects that contribute to the creation of  Armenian-language content, supports startups and Hi-Tech events in   Armenia.  Before May 2022, the company operated under the Beeline   brand.