Tata Communication to acquire remaining stake in Oasis Smart SIM for Rs 99.3 crore

For Rs 99.3 crore, Tata Communications will purchase the remaining 41.9% of eSIM provider OSSE France. After the deal, which the company anticipates closing in about a month, Tata Communications’ Singapore-based subsidiary Tata Communications International Pte (TCIPL) would acquire a 100 percent equity stake in Oasis Smart SIM Europe. 

In 2020, TCIPL purchased a 58.1 percent controlling ownership position in Oasis Smart Sim Europe SAS (OSSE France) and Oasis Smart E-Sim Pte Ltd (OSEPL), converting OSSE France and OSEPL into its subsidiaries. OSEPL is an entirely owned subsidiary of OSSE France. 

In a regulatory filing, Tata Communications said, “TCIPL will acquire full equity ownership in OSSE France, increasing its shareholding from the current stake of 58.1 per cent to 100 per cent by buying out the remaining stake of 41.9 per cent.” 

To facilitate the use of eSIM and SIM technologies, Oasis creates cutting-edge technology and offers customised services. It has collaborated with more than 100 mobile network providers and supplied more than 350 million operating systems globally. 

“The acquisition of Oasis will help Tata Communications complete the alignment of Oasis eSIM R&D road map with Tata Communications’ MOVE platform,” Tata Communications said in a regulatory filing.

Source: Media reports

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