TCIPL acquiring remaining 41.9% shares of Oasis Smart SIM Europe
Tata Communications to accelerate and augment Tata Communications MOVETM platform roadmap for global markets with the acquisition of remaining 41.9% equity in Oasis Smart SIM Europe SAS (Oasis), a leading embedded-SIM (eSIM) technology provider.
Tata Communications said the remaining shares are being acquired through Singapore-based subsidiary Tata Communications International Pte Limited (TCIPL).
The transaction enables TCIPL to gain complete 100% equity shareholding in Oasis Smart SIM Europe enabling, it said on 11 July 2023.
As part of the share purchase agreement, Tata Communications will buy out the remaining stake from the non-controlling shareholders of Oasis.
The acquisition is expected to be completed within one month, subject to customary legal requirements. Post closing of the transaction, Oasis and its subsidiary will become wholly-owned indirect subsidiaries of Tata Communications.
Earlier in December 2020, TCIPL had acquired majority equity stake of 58.1% in Oasis.
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 empowering OEMs and IoT service providers to deliver eSIMs potential to global enterprises.
Announcing the acquisition, Tri Pham, Chief Strategy Officer, Tata Communications, said, “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.”
Upon completion of the transaction, Oasis will become a part of the Collaboration and Connected Solutions business unit of Tata Communications.
“eSIM is the future of connectivity and it’s driving a paradigm shift in the way we interact with people and machines alike,” said Mysore Madhusudhan, Executive Vice President, Collaboration & Connected Solutions, Tata Communications.
“With billions of devices, managing hyperconnected ecosystems will be the cornerstone of success for enterprises. The acquisition of the remaining stake in Oasis will enable us to accelerate and step up our offerings with game changing solutions globally.”
Oasis CEO Olivier Leroux added, “Today is a historic day for Oasis and I am thrilled with our complete acquisition by Tata Communications.
“Both teams have integrated well and have been developing innovative solutions for enterprises. Together we’ve already launched a unique cloud-based eSIM that simplifies deployment across fragmented supply chains and benefit enterprises globally. We are now ready to evolve to the next level to scale strategically and seize the global eSIM market.” Fiinews.com
