Tata Communications to accelerate Tata Communications MOVE™ platform development
Paris, FRANCE and Mumbai, INDIA – WEBWIRE – Tuesday, July 11, 2023
Tata Communications, a global digital ecosystem enabler, today announces 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 MOVE™ platform roadmap for global markets.
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.
Oasis develops and provides advanced technologies and personalised services to enable the deployment of eSIM and SIM technologies. It has delivered over 350 million operating systems worldwide, worked with more than 100 mobile network operators (MNOs) and has been empowering OEMs and IoT service providers to deliver eSIMs potential to global enterprises.
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.”
About Oasis Smart SIM™ Europe SAS
Oasis Smart SIM was founded in 2011, with headquarters in both France and Singapore. Oasis is committed to breaking the traditional SIM vertical model to create a trustworthy and interoperable ecosystem. Our advanced SIM and eSIM solutions are provided to more than 120 of the world’s leading operators and providers, with the support of our majority shareholder Tata Communications. As members of GSMA and the Trusted Connectivity Alliance, Oasis has been recognised as the 6th global eSIM management solution provider by Counterpoint Research in 2022. For more information, visit www.oasis-smartsim.com
About Tata Communications
A part of the Tata Group, Tata Communications (NSE: TATACOMM; BSE: 500483) is a global digital ecosystem enabler powering today’s fast-growing digital economy in more than 190 countries and territories. Leading with trust, it enables digital transformation of enterprises globally with collaboration and connected solutions, core and next gen connectivity, cloud hosting and security solutions and media services. 300 of the Fortune 500 companies are its customers and the company connects businesses to 80% of the world’s cloud giants. For more information, please visit www.tatacommunications.com
Forward-looking and cautionary statements
Certain words and statements in this release concerning Tata Communications and its prospects, and other statements, including those relating to Tata Communications’ expected financial position, business strategy, the future development of Tata Communications’ operations, and the general economy in India, are forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors, including financial, regulatory and environmental, as well as those relating to industry growth and trend projections, which may cause actual results, performance or achievements of Tata Communications, or industry results, to differ materially from those expressed or implied by such forward-looking statements. The important factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements include, among others, failure to increase the volume of traffic on Tata Communications’ network; failure to develop new products and services that meet customer demands and generate acceptable margins; failure to successfully complete commercial testing of new technology and information systems to support new products and services, including voice transmission services; failure to stabilize or reduce the rate of price compression on certain of the company’s communications services; failure to integrate strategic acquisitions and changes in government policies or regulations of India and, in particular, changes relating to the administration of Tata Communications’ industry; and, in general, the economic, business and credit conditions in India. Additional factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements, many of which are not in Tata Communications’ control, include, but are not limited to, those risk factors discussed in Tata Communications Limited’s Annual Reports. The Annual Reports of Tata Communications Limited are available at www.tatacommunications.com. Tata Communications is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements.
© 2023 Tata Communications. All rights reserved. TATA COMMUNICATIONS and TATA are trademarks or registered trademarks of Tata Sons Private Limited in India and certain countries.
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