Tata Communications subsidiary to acquire remaining stake in Oasis Smart Sim

11 Jul 2023 , 09:44 AM

A share purchase agreement has been completed by Tata Communications International Pte Ltd., a fully owned subsidiary of Tata Communications, to purchase the final roughly 42% ownership in Oasis Smart Sim Europe SAS for Rs 99.3 crore ($12 million).

In 2020, Tata Communications purchased a majority (58.1%) ownership position in Oasis Smart Sim Europe SAS.

‘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 business stated in a stock exchange notice on Monday.

To facilitate the use of eSIM and SIM technologies, Oasis creates cutting-edge technology and offers customized services. It has worked with more than 100 mobile network operators (MNOs), supplied more than 350 million operating systems globally, and assisted OEMs and IoT service providers in maximizing the potential of eSIMs for large-scale businesses.

Subject to typical legal constraints, Tata Communications stated that it anticipated the transaction to close within a month of the announcement date.

‘Both teams have made great strides, and the integration has already aided in the commercialization of creative solutions. The global eSIM market is rapidly expanding and upending existing business models. Tri Pham, chief strategy officer of Tata Communications, stated in the notice that they were stepping up their efforts to strengthen their position and empower businesses.

Oasis will join Tata Communications’ business unit for collaboration and connected solutions after the purchase is complete.

Oasis, a Singapore-based provider of eSIM solutions, recorded revenues of Rs 109.8 crore and Rs 45.9 crore for the fiscal years ended March 31, 2023, and 2022, respectively.

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