Founded in 2012, Unicommerce is the biggest e-commerce enablement software as a service platform in India in terms of revenue for the fiscal year that concluded on March 31, 2022. It allows brands, sellers, and logistics service providers to manage their e-commerce operations from start to finish.
SaaS platform for logistics in e-commerce Unicommerce announced on Monday that it will buy Shipway, an e-commerce technology company, in phases using a combination of cash and equity. For a cash consideration of Rs 68.4 crore, Unicommerce will purchase a 42.76% stake in Shipway in the first tranche. The remaining stake will be acquired within a year through a stock swap or merger through the issuance of equity shares.
For a cash payment of Rs 68.4 crores, Unicommerce is purchasing a 42.76% share in Shipway in the first tranche of the transaction. In a statement, Unicommerce stated that it would complete a 100% acquisition of Shipway within a year by means of a stock swap or merger and the issuance of equity shares.
Through the acquisition, Unicommerce’s product line will grow to include solutions for shipping automation, courier aggregation, and return reduction. According to the statement, the acquisition will also allow Unicommerce to provide an integrated marketing platform with automated, AI-enabled solutions that let retailers and brands target customers with wide-ranging, segmented, and personalized marketing campaigns to boost conversions.
“Unicommerce eSolutions MD and CEO, Kapil Makhija, stated that the combined product suite of software solutions from Unicommerce and Shipway will be revolutionary, providing an unmatched, one-stop, seamless solution to simplify e-commerce for businesses in India, including and beyond our more than 6500 customers.” The Shipway and ConvertWay teams will continue to expand as part of the acquisition.
“The acquisition is anticipated to result in a substantial growth of Unicommerce’s market potential, allowing it to offer its current technological solutions to nearly 3000 Shipway clients worldwide and in India, including brands such as Durex, Lenskart, Juicy Chemistry, Tresmode, Dot & Key, Amante, Libas, Sleepy Owl, Sennheiser, and many more,” the statement read.
The stock of Unicommerce eSolutions Ltd. is currently down more than 1% at Rs. 194.90 per share.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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