Tata Communications International Pte Ltd., a wholly owned arm of Tata Communications, said it has entered into a share purchase agreement to acquire the remaining 41.9% stake in Oasis Smart SIM Europe SAS (Oasis) for Rs 99.3 crore, a leading eSIM technology provider.

Tata Communications acquired a majority stake (58.1%) in Oasis Smart Sim Europe SAS in 2020.

The company said, “The transaction enables TCIPL to gain complete 100% equity shareholding in Oasis Smart SIM Europe, enabling Tata Communications to accelerate and augment Tata Communications MOVE platform roadmap for global markets”.

As a part of the deal, Tata Communications will buy out the remaining shares from the non-controlling shareholders of Oasis. Upon the successful completion of the transaction within a month, Oasis and its subsidiary will become an indirect subsidiary of Tata Communication.

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.” he added, “The global eSIM industry is growing exponentially and disrupting the industry. We are accelerating our efforts to empower enterprises and gain a stronghold”.

A meeting of the board of directors of Tata Communications is scheduled to be held on Wednesday, July 19, 2023, to consider, approve and take on record the unaudited standalone and consolidated financial results along with the limited review reports of statutory auditors thereon for the quarter ended June 30, 2023. We’ve witnessed technology advancements, handled legacy features, and consistently delivered exceptional performance for our clients.