Tata Communications Ltd, a subsidiary of the Tata Group, has agreed to acquire the remaining 41.9% stake in Oasis Smart SIM Europe SAS, a French technology firm, for Rs 99.3 crore ($12 million). This acquisition follows Tata Communications' purchase of a 58.1% stake in Oasis in 2020. Oasis Smart SIM Europe is known for its advanced technologies and personalised services that facilitate the deployment of eSIM and SIM technologies.
The company has worked with over 100 mobile network operators (MNOs) and has delivered more than 350 million operating systems worldwide. By acquiring the remaining stake in Oasis, Tata Communications aims to accelerate and enhance its MOVE platform roadmap for global markets.
In the fiscal year 2023, Oasis witnessed significant growth in revenue, reaching €12.2 million compared to €5.1 million in the previous fiscal year. The company generated €3.6 million in revenue for the 15-month period ending on March 31, 2021.
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The integration of Tata Communications and Oasis has already yielded innovative solutions, according to Tri Pham, Chief Strategy Officer at Tata Communications. The global eSIM industry is experiencing rapid growth and disruption, and Tata Communications is committed to empowering enterprises and strengthening its position in the market. Olivier Leroux, CEO of Oasis, expressed excitement about the acquisition and highlighted the successful launch of a cloud-based eSIM solution that simplifies deployment across supply chains.
This acquisition by Tata Communications follows its recent purchase of New York-based video production and distribution company, The Switch Enterprises LLC, for $58.8 million. These strategic acquisitions reflect Tata Communications' commitment to expanding its capabilities and offering cutting-edge solutions to global enterprises.
The move has boosted the stock price of Tata Communications in the last few days. The deal has the potential to bring benefit to the company in the long run as the adoption of eSIM technology grows across the world.
