Tata Communications Ltd has agreed to acquire the 41.9% stake it doesn’t already own in French technology firm Oasis Smart SIM Europe SAS for Rs 99.3 crore ($12 million).
The Tata Group company had bought a 58.1% stake in Oasis in 2020 for an undisclosed amount.
Tata Communications said in a statement the transaction will help it accelerate and augment its MOVE platform roadmap for global markets.
Oasis develops and provides advanced technologies and personalised services to enable the deployment of eSIM and SIM technologies. It claims to have 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 eSIM’s potential to global enterprises.
Oasis’ revenue grew 2.4 times in FY23 to €12.2 million from €5.1 million in FY22. The company’s revenue for the 15 months ended 31 March 2021 stood at €3.6 million.
“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,” said Tri Pham, chief strategy officer at Tata Communications.
“Together we have 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,” said Olivier Leroux, chief executive officer, Oasis.
Tata Communications’ latest acquisition comes just two months after its Dutch arm acquired New York-based video production and distribution company The Switch Enterprises LLC for $58.8 million in an all-cash deal.
