Tata Communications Ltd on Monday announced that the company has entered into a share purchase agreement through its Singapore based arm Tata Communications International Pte Ltd to acquire the remaining 41.9 percent equity in Oasis Smart SIM Europe SAS for $12 million, the company announced through an exchange filing.
Through the filing the company said , with the latest acquisition, Tata Communications International will have 100 percent equity in Oasis Smart, an embedded-SIM, or e-SIM, technology provider.
Tata Communications International Pte Ltd. (‘TCIPL’), a wholly-owned direct subsidiary of Tata Communications Limited, will acquire full equity ownership in OSSE France, increasing its shareholding from the current stake of 58.1 percent to 100 percent by buying out the remaining stake of 41.9 percent. Oasis develops and provides advanced technologies and personalized services to enable the deployment of eSIM and SIM technologies.
Since 2011, Oasis has delivered 350+ million operating systems worldwide and has worked with 100+ MNOs with Oasis Technology.
Oasis had a Revenue of €12.2 Mn (₹109.8 Crores) for the financial year ended March 31, 2023.
In 2020, TCIPL acquired majority equity stake of 58.1% in Oasis thereby making OSSE France and OSEPL its subsidiaries.
