The Team Group of Companies, led by brothers Hayk and Alexandr Yesayan, has announced the acquisition of a controlling stake in Imagine Broadband, one of Ireland’s leading telecommunications operators that provides fixed voice and wireless broadband internet services across the country. The deal was concluded with the major international investment company Brookfield Corporation, which will continue to operate as a minority shareholder in the company, reports Zartonk Media.
This acquisition marks Team Group’s first major investment in an EU country, representing a landmark move for Armenia’s tech sector and a pivotal moment for Armenia’s expanding influence in the global telecommunications industry. By establishing a presence in Europe, Team Group is showcasing the capacity of Armenian-founded companies to expand globally and compete at an international level. The Yesayan brothers stated that their investment in Imagine reflects their belief in the long-term potential of the Irish market and their ambitious plans to expand into Europe, aligning with Team Group’s broader strategy to position itself as a key player in the European telecommunications industry.
“This is our first major deal in Europe and a significant milestone for future growth. As an Armenian company, we are proud to expand our business scope and open new horizons that will also contribute to developing the country’s economy, making Armenia more recognizable in the international business environment,” said Alexandr Yesayan, co-founder of Team Group.
Since its start, Imagine has utilized modern technologies to provide fast and reliable internet access, even to Ireland’s most remote areas. The company is now undergoing a strategic shift towards fibre broadband, aligning with the goals of Ireland’s National Broadband Plan, which aims to improve broadband access in underserved areas.
Niall Tallon, who has over 20 years of experience in telecommunications and business, has been appointed as the new CEO of Imagine. Speaking on the company’s future, Tallon stated “This investment by Team Group will finance our five-year strategic plan and enable us to pivot faster to fibre, enhancing service stability and quality for customers. The National Broadband Plan, supported by the Irish Government, has had a massive impact on the Irish broadband landscape. Over the last 24 months, the shift towards fibre technology has been transformative, particularly in rural Ireland. We have already begun working with our team and market partners to expand our coverage and offerings, delivering faster internet and innovative solutions across the country.”
This acquisition is the second international deal by Team Group, following its 2023 acquisition of shares in Georgia’s SkyTel, a strategic move to diversify internet routes into Armenia and enhance the stability, security, and reliability of internet services in the country. By investing in telecommunications providers in Georgia and now Ireland, Team Group is strengthening its position as a regional and global telecommunications leader.
This acquisition symbolizes a bold step forward for Armenia’s private sector, reflecting Team Group’s broader mission to enhance Armenia’s role in the global telecommunications sector and increase its influence in international markets. By acquiring Imagine Broadband, Team Group is positioned to transform Ireland’s broadband market while simultaneously improving connectivity and internet security for Armenia. The deal also underscores the potential of Armenian entrepreneurs like Hayk and Alexandr Yesayan, whose vision, leadership, and ambition have fueled Team Group’s growth into a major global player in the telecommunications industry.
The Team Group of Companies includes businesses offering innovative engineering and technological solutions:
- Team Telecom Armenia ” the largest fixed-line telecom operator and second-largest mobile operator in Armenia, serving over 1.1 million customers.
- Team Systems
- Team Solutions
- TeamPay
- Buy.am ” an online shopping mall
Through strategic investments, acquisitions, and a commitment to technological advancement, Team Group is expanding its presence in international markets and elevating Armenia’s role in the global telecommunications space. The acquisition of Imagine Broadband reflects a significant moment of pride for Armenia, underscoring the capacity of Armenian businesses to expand internationally and establish Armenia as a competitive player in the global telecommunications industry. By securing ownership stakes in key international broadband providers, including a foothold in one of the EU’s competitive broadband markets, Team Group is paving the way for long-term growth and global influence. This move also symbolizes the growing influence of Armenia’s private sector and its potential to create a global impact in key industries like telecommunications and technology.
