Digital technology firm Tata Communications on Wednesday said it has acquired 58.1 per cent stake in France-based eSIM company Oasis Smart SIM Europe SAS (Oasis).
Oasis develops and provides advanced technologies and personalised services to enable deployment of eSIM and SIM technologies.
With this investment, eSIM technology will be fully integrated into Tata Communications' connectivity solution offering, the company said in a statement.
It, however, didn't disclose the amount it has invested.
eSIMs facilitate secure, reliable, and cost-efficient cellular connectivity for Internet of Things (IoT) and machine-to-machine (M2M) applications.
Unlike traditional SIM, new connections on eSIM can be activated remotely and also customised without the need of customer visiting contact centres of companies physically.
"...the rise in the number of M2M connections globally show that there is immense opportunity in the eSIM market. Oasis has the right mix of technology expertise, agility as well as exceptional talent," Tata Communications Chief Strategy Officer Tri Pham said in the statement.
"Through this investment, we will focus on the software layer of the Tata Communications MOVE portfolio and drive further innovation in eSIM technology through product roadmap R&D," Pham added.
Forecasts predict that by 2025 there will be 2 billion shipped eSIM-enabled devices, the statement said.
Oasis CEO Olivier Leroux said, "We are looking forward to leveraging our joint capabilities to develop and co-create products and solutions to enable end-to-end embedded connectivity and to transform businesses through the latest mobile technologies.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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