History

Vega appeared in Ukrainian telecommunications market on October 15, 2008 through the merging

Mergers and acquisitions

Mergers and acquisitions refers to the aspect of corporate strategy, corporate finance and management dealing with the buying, selling, dividing and combining of different companies and similar entities that can help an enterprise grow rapidly in its sector or location of origin, or a new field or...

 the largest telecommunications groups in Ukraine

Ukraine

Ukraine is a country in Eastern Europe. It has an area of 603,628 km², making it the second largest contiguous country on the European continent, after Russia...

: Farlep and Optima Telecom, as well as companies Ucomline, CSS, IP Telecom, Matrix, Vilcom and many others.

The story of Vega Telecom Group started in 1994, when major companies were established, and later included into Farlep group in Odessa

Odessa

Odessa or Odesa is the administrative center of the Odessa Oblast located in southern Ukraine. The city is a major seaport located on the northwest shore of the Black Sea and the fourth largest city in Ukraine with a population of 1,029,000 .The predecessor of Odessa, a small Tatar settlement,...

 and Optima-Telecom in Dnepropetrovsk. Both companies had innovative technologies for that time, such as digital telephony

Digital telephony

Digital telephony is the use of digital electronics in the provision of digital telephone services and systems. Since the 1960s a digital core network has almost entirely replaced the old analog system, and much of the access network has also been digitized...

.

By 2005, Farlep Invest Holding had consolidated the following assets:

• The third largest Ukrainian alternative operator Farlep (covered 150 000 subscribers);
• International communications operator Ucomline;
• Manufacturer of telecommunications equipment Farlep 2000.

Company Optima-Telecom by 2005 had had over 300 000 subscribers in 13 Ukrainian cities.

In 2005, Ukraine's leading financial and industrial group System Capital Management has acquired companies Farlep Invest Holding and Optima Telecom and consolidate assets in the holding Farlep -Optima.
From 2005 to 2008, SCM has acquired and successfully combined a number of assets, including companies CSS, IP Telecom, Matrix, Vilcom etc.

Today Vega provides communication services in 47 cities and towns in 20 Ukrainian oblasts. The full gamut of services (fixed-line telephony, broadband Internet access and data transmission) is provided in 38 populated places.

Management

General Director of Farlep Invest (managing company for Vega telecommunications Group) is Lasha Mikava.