Tata Communications to buy balance stake in Singapore's Oasis Smart Sim for Rs99.3 crore

economictimes.indiatimes.com:

Tata Communications International Pte Ltd., a wholly owned unit of Tata Communications, has signed a share purchase agreement to buy the remaining nearly 42% stake of Oasis Smart Sim Europe SAS for Rs 99.3 crore ($ 12 million). Tata Communications had acquired a majority stake (58.1%) in Oasis Smart Sim Europe SAS in 2020. “The transaction enables TCIPL to gain complete 100% equity shareholding in Oasis Smart SIM Europe enabling Tata Communications to accelerate and augment Tata Communications MOVE platform roadmap for global markets,” the company said in a stock exchange notice Monday.

Oasis develops and provides advanced technologies and personalised services to enable the deployment of eSIM and SIM technologies. It has delivered over 350 million operating systems worldwide, worked with more than 100 mobile network operators (MNOs) and has been helping OEMs and IoT service providers to deliver eSIMs potential to global enterprises. Tata Communications said that it expected the acquisition to be completed within a month from the date of announcement, subject to customary legal requirements.

“Both teams have made tremendous progress and the integration has already helped bring innovative solutions to market. The global eSIM industry is growing exponentially and disrupting the industry. We are accelerating our efforts to empower enterprises and gain a stronghold,” Tri Pham, chief strategy officer, Tata Communications said in the notice.