Tata Communications buys 58.1% stake in French e-SIM tech company

Tata Communications NSE 3.54 % has acquired a majority equity stake of 58.1% in Oasis Smart SIM Europe SAS (Oasis), a France-headquartered embedded-SIM (eSIM) technology provider, which will help the telecom company provide better offerings to its enterprise customers globally.

The acquisition also comes at a time when Tata Comm is betting big on IoT and has to stay ahead of competition from telecom operators in the enterprise segment.

“Enterprises are increasingly relying on mobile devices to operate and access data in the cloud. This coupled with the rise in the number of M2M connections globally show that there is immense opportunity in the eSIM market,” Tri Pham, Chief Strategy Officer, Tata Communications , said in a statement Wednesday.