Tata Communications to acquire remaining 41.9% stake in OSSE France for Rs 99.3 crore

Tata Communications will acquire the remaining 41.9 per cent stake in eSIM company OSSE France for Rs 99.3 crore, the company said on Monday.

Following the transaction, which the company expects to close in about a month, Tata Communications' Singapore-based subsidiary Tata Communications International Pte (TCIPL) would acquire 100 per cent equity shareholding in Oasis Smart SIM Europe.

"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," Tata Communications said in a regulatory filing.

In 2020, TCIPL acquired a majority equity stake of 58.1 pc in Oasis Smart Sim Europe SAS (OSSE France) and Oasis Smart E-Sim Pte Ltd (OSEPL) Oasis, making OSSE France and OSEPL its subsidiaries. OSEPL is a wholly-owned subsidiary of OSSE France.

"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.

"Both teams have made tremendous progress and the integration has already helped bring innovative solutions to the market. The global eSIM industry is growing exponentially and disrupting the industry. We are accelerating our efforts to empower enterprises and gain a stronghold," Tata Communications Chief Strategy Officer, Tri Pham, said in a statement.

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, and worked with more than 100 mobile network operators.