Tata Communications Ltd said Wednesday it has acquired a 58.1% stake in Oasis Smart SIM Europe SAS, a French company that provides embedded-SIM (eSIM) technology.
Tata Communications will drive and accelerate product roadmap R&D with Oasis, leveraging and amplifying the growth in the mobility and Internet of Things (IoT) markets, the company said in a statement.
The Tata Group company didn’t disclose any financial details of the transaction.
Oasis develops and provides advanced technologies and personalised services to enable the deployment of eSIM and SIM technologies. Tata Communications will integrate the eSIM technology into its MOVE platform to provide embedded connectivity solutions and strengthen its offerings for global enterprise mobility needs.
The acquisition comes a little more than two years after Tata Communications gained full control of Dutch IoT enabler Teleena. That deal was also part of efforts to beef up the company’s MOVE platform.
The MOVE platform helps companies and device manufacturers to capture and manage information worldwide.
“Enterprises are increasingly relying on mobile devices to operate and access data in the cloud,” said Tri Pham, chief strategy officer at Tata Communications. “This coupled with the rise in the number of M2M [machine-to-machine] connections globally show that there is immense opportunity in the eSIM market.”
Shares of Tata Communications jumped 4.4% to close at Rs 1,048.35 apiece on the BSE, outpacing the benchmark Sensex’s 0.95% gain. The shares have surged five times from their March lows, compared with the Sensex’s 80% climb.