MUMBAI: Tata Communications rallied nearly 8 per cent on Thursday, after the company said it has acquired a 58.1 per cent stake in Oasis Smart SIM Europe SAS (Oasis), a France-headquartered embedded-SIM (eSIM) technology provider.
At 9:40 am, Tata Communications was up 7.79 per cent at Rs 1,130, while benchmark Sensex climbed 0.80 per cent to 46,815.55 points.
The acquisition will help the telecom company provide better offerings to its enterprise customers globally, and comes at a time when Tata Communications 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.
At 9:40 am, Tata Communications was up 7.79 per cent at Rs 1,130, while benchmark Sensex climbed 0.80 per cent to 46,815.55 points.
The acquisition will help the telecom company provide better offerings to its enterprise customers globally, and comes at a time when Tata Communications 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.
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