Tata Communications acquired majority equity stake of 58.1% in Oasis Smart SIM Europe SAS (Oasis), a France-headquartered embedded-SIM (eSIM) technology provider.
The announcement was made after market hours yesterday, 23 December 2020. Shares of Tata Communications rose 4.42% to settle at Rs 1,048.35 yesterday.
Oasis develops and provides advanced technologies and personalised services to enable the deployment of eSIM and SIM technologies. With this investment, eSIM technology will be fully integrated into Tata Communications MOVE, enabling an end-to-end embedded connectivity solution and strengthening Tata Communications MOVE as a single source platform for global enterprise mobility needs.
Tata Communications will drive and accelerate product roadmap R&D with Oasis, leveraging and amplifying the growth in the mobility and IoT markets. Tata Communications MOVE enables enterprises and device manufacturers to capture, move and manage information worldwide through borderless, secure and scalable connectivity, with a network independent, platform approach. With this investment, the company will deliver an enhanced full-service enterprise mobility solution to customers through complete access and management of the eSIM and software layer.
Tata Communications is a digital ecosystem enabler that powers today's fast-growing digital economy. The company enables the digital transformation of enterprises globally, including 300 of the Fortune 500 - unlocking opportunities for businesses by enabling borderless growth, boosting product innovation and customer experience, improving productivity and efficiency, building agility and managing risk.
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