Tata Communications has entered into a share purchase agreement through its Singapore-based subsidiary Tata Communications International Pte Limited (TCIPL) to acquire the remaining 41.9 per cent equity in Oasis Smart SIM Europe SAS for $12 million. The company had acquired a majority stake (58.1 per cent) in Oasis in 2020.

According to Tata Communications, the transaction enables TCIPL to gain a complete 100 per cent equity shareholding in Oasis Smart SIM enabling it to accelerate and augment Tata Communications MOVETM platform roadmap for global markets. The company expects the acquisition to be completed within a month from the date of the announcement, subject to customary legal requirements.