Tata Communications, a global digital ecosystem enabler, announced it has entered into a share purchase agreement through its Singapore-based subsidiary Tata Communications International Pte Limited (TCIPL) to acquire the remaining 41.9% equity in Oasis Smart SIM Europe SAS (Oasis), a leading embedded-SIM (eSIM) technology provider.
The transaction enables TCIPL to gain complete 100% equity shareholding in Oasis Smart SIM Europe enabling Tata Communications to accelerate and augment Tata Communications MOVETM platform roadmap for global markets, the statement said.
As part of the share purchase agreement, Tata Communications will buy out the remaining stake from the non-controlling shareholders of Oasis. It is expected that the acquisition will be complete 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, as per the statement.
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.”
“Today is a historic day for Oasis and I am thrilled with our complete acquisition by Tata Communications,” said Olivier Leroux, CEO, Oasis. “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.”
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