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.
