What Team Group does

Team Group (legal entity: Team Holding CJSC) is a privately held Armenian conglomerate founded in 2000 by Hayk and Alexandr Yesayan, with roots as the successor to Armenia's first telecom network. The group's anchor subsidiary, Team Telecom Armenia, is the country's #1 fixed-line operator (270,000+ subscribers) and #2 mobile operator (1,000,000+ subscribers), employing 1,800+ staff. Core technical infrastructure includes a 25 Gbps Next Generation Network (NGN) fiber backbone launched in 2021, a regional-unique deployment that reached 410,000+ households by 2025, alongside 5G services now live in Yerevan, Gyumri, and Vanadzor. Team Telecom also exports connectivity to five Middle Eastern countries.

Beyond telecom, the group operates more than 10 portfolio companies spanning seven industries: software/e-government (Team Solutions with the Zangezor omnichannel contact center platform deployed at the Office of the Prime Minister and Ministry of Finance, holding ISO 9001 and ISO 27001 certifications), fintech (TeamPay with 21,000+ POS terminals representing ~25% of Armenia's terminal network, plus the first imID-integrated digital wallet), e-commerce (Buy.am marketplace with 20,000+ SKUs and 620+ partners), system integration and EV charging (Team Systems, exclusive Huawei inverter distributor), renewable energy (Team Energy with 5 MW hydro, 8.2 MW operational solar, 22 MW solar under construction, targeting 57 GWh annual output, and 200+ EV charging stations), hospitality (Grand Hotel Yerevan, 103 rooms, Small Luxury Hotels of the World member), winery (Northern Terroir), beverage distribution (Tomorrow), 4PL logistics (Team Logistics), construction (Team Construct), and outsourcing (ServiceHub). International telecom assets include a wholly owned Irish operator (Imagine Broadband, transitioning to fibre and 5G) and a 40% stake in SkyTel, Georgia's third-largest fixed ISP.

The business model combines recurring telecom subscriptions, government/enterprise professional services contracts, transaction fees on TeamPay's payments network, marketplace commissions on Buy.am, and one-time fees on system integration and construction. Revenue is not publicly disclosed. The group raised debt capital through a USD 31.5M + AMD 1.4B corporate bond program listed on the Armenian Stock Exchange in 2026 (tranches placed in Dec 2025, Feb 2026, and May 2026 at 8.65–12% coupons). In June 2025, the group announced the Firebird AI megaproject — a nearly USD 500M co-investment with NVIDIA, Firebird, Dell, and the Afeyan Foundation — to build a regional AI supercomputing hub in Armenia powered by 6,000+ NVIDIA Blackwell GPUs delivering 110.6 exaflops, with Team Telecom providing the 1 Tbps connectivity backbone.

Name

Team Group

Legal name

Team Holding CJSC

Website

https://teamgroup.am

Company type

Private

Founded year

2000

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Team Group (Team Holding CJSC) is an Armenian diversified conglomerate whose flagship Team Telecom Armenia serves 1M+ mobile and 270K+ fixed subscribers, while operating 10+ portfolio companies spanning fintech, e-commerce, renewable energy, hospitality, construction, and a $500M NVIDIA-backed AI supercomputing hub.

Ownership category

akta.pro rank

Product category

Diversified Telecommunications, Technology & Services Holding

NAICS

Offices of Other Holding Companies (551112), Telecommunications Resellers (517121)

SIC

Services-Computer Programming, Data Processing, Etc. (7370), Beverages (2080)

akta.pro primary industry

Business Messaging & Team Collaboration (HDAIAHAE)

Keywords

• Telecommunications services
• Fintech payment solutions
• System integration services
• Renewable energy infrastructure
• Online marketplace platform

Headquarters

HQ city

Yerevan

HQ country

Armenia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Personnel, Technology or R&D, Operations, Marketing or Sales, Supply Chain

Revenue model

1. Telecommunications Services: Mobile and fixed internet, digital television, and voice communication services provided by Team Telecom Armenia across Armenia with over 1 million mobile subscribers and 270,000+ fixed subscribers.
2. Software Development & E-Government: Design, development and implementation of large-scale digital solutions for government institutions, telecom operators, and enterprise organizations including e-government platforms, network management tools, and enterprise automation systems.
3. Fintech & Payment Services: TeamPay licensed payment platform providing money remittance, processing, clearing services, e-wallet, and POS terminal network representing approximately 25% of Armenia's terminals.
4. E-commerce Platform: Buy.am online marketplace with over 20,000 products across food, electronics, pharmaceuticals, and spirits categories, with network of 620+ partners.
5. Hospitality Services: Grand Hotel Yerevan (103 rooms, Small Luxury Hotels of the World member) and Northern Terroir winery providing premium hospitality and wine products.
6. System Integration & Engineering: Electrical engineering, solar energy systems, smart technologies, IT infrastructure, EV charging networks, and construction services through Team Systems and Team Construct.
7. Renewable Energy Production: Solar (8.2 MW operational, 22 MW under construction) and hydro (5 MW) power generation through Team Energy, with expected annual output of 57 GWh.
8. Bond Issuance: USD and AMD denominated corporate bonds issued through Armenian capital markets with 8.65-12% coupon yields, total program of USD 31.5 million and AMD 1.4 billion.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels4 records

Core offering

Team Group is a diversified holding company that operates and owns more than 25 subsidiaries delivering telecommunications services (mobile, fixed-line, broadband, IPTV, OTT under Team Telecom Armenia), software and system integration (Team Solutions, Team Systems, Zangezur), fintech and digital payments (TeamPay), e-commerce (Buy.am marketplace), hospitality (Grand Hotel Yerevan), renewable energy (Team Energy), construction (Team Construct), 4PL logistics (Team Logistics), consumer goods (Northern Terroir winery, TMW, Food Republic), and AI/computing infrastructure (Firebird). The group's principal revenue-generating businesses are telecom subscription services to 1M+ mobile and 270k+ fixed-line subscribers, payment-processing fees from 10,000+ merchants, marketplace commissions, and ICT project delivery to enterprises and government.

Product overview

Team Group is a diversified conglomerate with a portfolio spanning telecommunications, software development, fintech, e-commerce, hospitality, logistics, construction, renewable energy, and venture capital. The company operates primarily through its holding structure: Team Telecom Armenia (mobile/fixed internet, digital TV, voice services via NGN/5G networks), Team Solutions (e-government platforms including Zangezor omnichannel contact center), TeamPay (digital wallet, POS terminals, e-money), and Buy.am (e-commerce marketplace with 20,000+ products). Additional portfolio companies include Team Systems (system integration, smart home/EV charging), Team Energy (renewable energy, EV charging network), Team Logistics (4PL logistics), Team Construct (construction), ServiceHub (outsourcing), Northern Terroir (boutique winery), Grand Hotel Yerevan (luxury hospitality), and Tomorrow (beverage distribution). International presence includes Imagine (Ireland telecom) and SkyTel (Georgia telecom). Team Ventures invests in Artape (digital business platform) and Food Republic (food/cold-chain logistics). The flagship Firebird AI project is a $500M regional AI supercomputing hub powered by NVIDIA GPUs.

Differentiator

Problem solved

Functional benefit

Brands

• Team Telecom Armenia: Armenian telecommunications company offering mobile and fixed internet, digital television, and voice communication services
• Team Systems
• Team Solutions
• Team Pay
• Team Energy
• Team Construct
• Team Logistics
• Buy.am
• Northern Terroir
• Tomorrow (TMW)
• Grand Hotel Yerevan
• ServiceHub
• Imagine Broadband
• SkyTel
• Zangezor
• Smart Place by Team
• Team Ventures

Products and services

• Team Telecom Armenia (mobile, fixed-line, broadband, IPTV, OTT) Mobile and fixed-line telecom services (voice, broadband, IPTV, OTT, mobile data, smartphone bundles) for residential consumers, SMEs and enterprise customers across Armenia, with 99.8% population coverage and more than 1 million mobile and 270,000 fixed-line subscribers.
• Team Solutions (software development and e-government) Custom software development, e-government platforms, business-process automation, cloud and AI solutions for enterprises and public-sector organizations, with capabilities in system design, deployment and long-term support.
• Zangezur (omnichannel contact-center / CCaaS platform) Cloud contact-center-as-a-service platform with voice, IVR, voice bots, omnichannel routing, CRM/telephony integrations and analytics, sold to enterprises needing customer-service automation and outsourcing.
• TeamPay (digital wallet, POS acquiring and e-money) Digital wallet, payment-card issuance, NFC contactless acceptance, POS terminals, merchant acquiring, e-money and money-transfer services for consumers, merchants and partners in Armenia.
• Buy.am (online marketplace) Online multi-category marketplace aggregating 620+ partner sellers and 20,000+ products, enabling Armenian consumers to shop electronics, food, household goods and more through a single storefront.
• Team Systems (system integration and engineering) System integration, network-infrastructure deployment and engineering services for enterprise and government customers, including telecom-network rollout, cybersecurity and managed services.
• Grand Hotel Yerevan (luxury hotel) 5-star luxury hotel accommodation, restaurants and bars, spa, and conferences/events venue in central Yerevan, serving international and domestic business and leisure travelers.
• Northern Terroir (boutique winery) Production, branding and distribution of boutique Armenian wines, sold through retail, HoReCa and export channels to consumers and businesses.
• TMW / Tomorrow (beverage distribution) Beverage distribution and wholesale services to hotels, restaurants, cafes and retail channels across Armenia.
• Team Logistics (4PL logistics) Fourth-party logistics (4PL) services including supply-chain management, warehousing and distribution for enterprise customers across Armenia, Georgia and the Middle East.
• Team Construct (construction) General construction services including industrial, civil, renovation and real-estate development, serving enterprise and government clients.
• Team Energy (renewable energy & EV charging) Renewable-energy generation (solar PV), power sales and EV-charging infrastructure deployment for residential, commercial and public-sector customers.
• ServiceHub (outsourcing services) Customer-service and back-office outsourcing (English/Russian/Armenian/Arabic) for banks, telecom operators and enterprises, delivered from Armenia and CIS locations.
• Imagine Broadband (Ireland telecom) Fixed broadband, voice and mobile services for residential and business customers in Ireland under the Imagine brand.
• SkyTel (Georgia telecom) Mobile, fixed-line and internet services for residential and business customers in Georgia under the SkyTel brand.
• Artape (digital business platform) B2B/B2C digital business platform for launching and operating marketplaces, e-commerce stores, CRM, POS terminals and integrated online payments, sold to SMEs and enterprises.
• Food Republic / Restaurant (seafood and dining) Restaurant, seafood retail and online food-ordering service, selling fresh seafood and prepared meals to Armenian consumers via dine-in and delivery channels.
• Firebird (AI supercomputing facility) AI/HPC compute-as-a-service via an immersion-cooled NVIDIA H200 GPU cluster (320 kW), sold to internal subsidiaries and external enterprise and research customers.
• Smart Place by Team (smart-home/office automation) Smart-home and smart-office automation systems combining video surveillance, climate, lighting, multimedia, IoT sensors and security, sold to households, offices and real-estate developers.

Quantifiable outcome

• 110.6 exaflops AI computing performance through Firebird AI first phase with 6,000+ NVIDIA Blackwell GPUs
• +3 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

AI capability2 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Dell TechnologiescoreTechnology or Integration · 19 November 2025Hardware infrastructure partner for Firebird AI providing PowerEdge high-performance AI servers powering the AI data center and supercomputing hub.
• NVIDIAcoreTechnology or Integration · 11 June 2025Technology partner for Firebird AI megaproject providing Blackwell GPU technology. NVIDIA CEO Jensen Huang announced collaboration at Viva Technology conference. Partnership enables regional AI supercomputing hub with thousands of NVIDIA Blackwell GPUs.
• FirebirdcoreStrategic or Co-development Partner · 11 June 2025US-based AI cloud and infrastructure technology company co-founded by Alexandr Yesayan. Nearly $500 million investment project to build regional AI supercomputing hub in Armenia. Team Group provides communications and internet infrastructure through Team Telecom Armenia.
• French University in ArmeniaminorOthers · 12 February 2025Educational partnership providing practical work experience for approximately 120 marketing faculty students across Team Telecom Armenia, Team Solutions, and Buy.am. Part of Team Group's social responsibility and talent development initiatives.
• Ameriabank CJSCcoreStrategic or Co-development PartnerStrategic banking partner for TeamPay POS terminal deployment. Over 21,000 POS terminals for card payments deployed nationwide through this partnership, representing approximately 25% of Armenia's total terminal network.
• imIDcoreTechnology or IntegrationDigital identification technology partner enabling TeamPay to become first digital wallet in Armenia to integrate one-step imID identification process using only mobile phone number and PIN code.
• Government of Republic of ArmeniacoreStrategic or Co-development PartnerGovernment support for Firebird AI megaproject under personal leadership of Prime Minister Nikol Pashinyan. Enables regulatory approvals and strategic alignment for AI infrastructure development.

Scale indicators11 records

Recent moves10 records

Expansion highlights7 records

Direct peers

• MTN Group: Africa's largest mobile operator with a deeply integrated mobile money platform (MoMo) and expanding fintech and digital services. Directly comparable to Team's telecom-plus-TeamPay combination, particularly on the mobile-money-as-distribution-model thesis in emerging markets.
• Safaricom: Kenyan telecom operator famous for M-Pesa, the world's most successful mobile money platform. Directly comparable to Team's strategy of building a dominant telecom base (Team Telecom Armenia) and layering payments (TeamPay) and digital services on top.
• Veon Ltd: Global digital operator providing connectivity and financial services across emerging markets (CIS, Pakistan, Ukraine, Bangladesh). Operates a similar telecom-plus-fintech platform strategy in countries comparable to Armenia, with mobile financial services and digital content layered on top of core mobile networks.
• Turkcell: Leading regional telecom operator in Turkey with mobile financial services (Turkcell Pay) and adjacent digital services. Closely comparable to Team Telecom Armenia's market-leader position combined with a licensed payment business and digital ecosystem.
• Ucom: Direct competitor in the Armenian telecom market, founded by the same entrepreneurs (Yesayan brothers) before Team Group. Most apples-to-apples comparable on Armenian fixed and mobile services, customer overlap, and pricing dynamics.

Broad incumbents

• Reliance Industries: Indian conglomerate spanning digital services (Jio), retail, oil-to-chemicals, and new energy. Closely analogous to Team's combination of a dominant connectivity platform, financial services push, retail/e-commerce (Buy.am), and renewable energy build-out.
• VimpelCom (Beeline): Major regional telecom operator (now part of Veon group) with significant CIS presence. Comparable on telecom scale, mobile financial services ambition, and operating in markets with similar GDP per capita and digital maturity to Armenia.
• Sistema (AFK Sistema): Russian diversified conglomerate with telecom (MTS), technology, healthcare, retail, and real estate. Closely mirrors Team's conglomerate structure of operating telecom as the anchor plus fintech, e-commerce, and adjacent verticals in a single emerging market.
• CK Hutchison Holdings: Hong Kong-based diversified conglomerate operating ports, retail, infrastructure, energy and telecom (Three) across multiple geographies. Comparable as a multi-vertical, multi-region holding company with telecom as one of several business lines.

Regional players

• Bakcell: Azerbaijani mobile operator with fixed-line and digital services, serving a neighboring Caucasus market with similar telecom economics, customer profile, and regulatory environment to Armenia.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/about

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries14 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Team Group