Tata Communications’ Singapore-based subsidiary Tata Communications International Pte (TCIPL) has signed a deal to acquire the remaining 41.9% stake in Oasis Smart SIM Europe SAS, an embedded-SIM (eSIM) technology provider.
As part of the deal, the Tata group company will buy out the remaining stake from the non-controlling shareholders of Oasis. TCIPL had acquired a 58.1% stake in Oasis in December 2020, the company said in a statement. However, the financial deals of the transaction were not immediately disclosed.
Tata Communications expects the acquisition to be completed within one month. Post-the deal, TCIPL will hold the entire stake in the company, with Oasis and its subsidiary becoming wholly-owned indirect subsidiaries of Tata Communications.
Founded in 2011, Oasis Smart SIM has headquarters in both France and Singapore.