Unicommerce eSolutions, an e-commerce SaaS platform for logistics has completed the acquisition of the remaining 57.24% stake in Shipway, a courier aggregation platform. With this acquisition, Shipway will become a wholly owned subsidiary of Unicommerce.
Unicommerce acquired a 42.76% stake in Shipway Technology on December 17, 2024, for a value of ₹68.4 crores.
The acquisition will be facilitated through a preferential issue of equity shares by Unicommerce in exchange for shares of Shipway held by its promoters and individuals other than the promoter. Unicommerce will issue 60,33,189 equity shares of the Company, with the share swap ratio being 1:8.9.
While the terms of the acquisition in December 2024 allowed Unicommerce to complete the acquisition of a 100% stake in Shipway within a year, the accelerated acquisition signals a quick integration. It has also enabled Unicommerce to expand its total addressable market and roll out an expanded and integrated suite of technology products making it a one-stop shop for all e-commerce enablement technology solutions.
Unicommerce collaborates with India’s leading brands, marketplaces, and logistics providers to enable end-to-end management of e-commerce operations and serve all the key processes of an e-commerce business.
Unicommerce’s flagship platform Uniware simplifies the backend operations of e-commerce businesses, including inventory management, order processing across multiple channels, warehouse operations, and seamless handling of return inventory.
Unicommerce serves 7000+ clients in India, Southeast Asia, and the Middle East.
Shipway, a full-stack logistics management platform, offers courier aggregation and shipping automation. Convertway is an AI-enabled marketing automation platform designed to boost conversions and sales.
Post the acquisition, the combined client base spans 7000+ businesses serving 10,000+ brands in India. With only a 5% overlap in the clients of Unicommerce and Shipway, it also offers immediate cross-sell opportunities for all businesses and significantly expands the addressable market.
With 35Mn+ annual transactions across the courier aggregation and automation space, Shipway has a strong presence and a footprint spanning 29,000 pin codes. Shipway is integrated with a courier network of 15+ courier partners at attractive prenegotiated shipping rates, allowing brands to save on their shipping costs.
