Unicommerce, an e-commerce SaaS platform for logistics to acquire Shipway Technology, a Gurugram-based e-commerce technology firm in a mix of cash and equity deals in phases.
Unicommerce will complete the acquisition in one or more tranches. The first tranche of acquisition will be completed during Q3 FY 2024-25 and the subsequent tranches will be completed by the end of Q3 FY 2025- 2026.
In the first tranche of the deal, Unicommerce is acquiring 42.76% stake in Shipway for a cash consideration of ₹68.4 crore. Unicommerce will acquire the balance stake in Shipway within one year through a merger or stock swap through an issue of equity shares to complete a 100% stake acquisition.
Incorporated in 2015, Shipway Technology offers software solutions in the prepurchase and post-purchase journey of e-commerce. Shipway Technology owns and operates a technology platform Shipway, an automated shipping solution software that algorithmically enables optimal courier allocation. Shipway Technology also owns and operates a technology solution The Convert Way, an automated marketing technology platform that allows brands to target their customers efficiently using AI-enabled tools.
This acquisition aligns with Unicommerce’s vision of delivering a comprehensive eCommerce enablement platform, strengthening customer relationships across pre- and post-purchase stages in the fast-growing eCommerce market.
The acquisition is expected to lead to a significant expansion of market opportunity for Unicommerce, enabling it to provide its existing technology solutions to nearly 3000 global and Indian clients of Shipway, which include brands like Durex, Lenskart, Juicy Chemistry, Tresmode, Dot & Key, Amante, Libas, Sleepy Owl, Sennheiser and many more.
“Our collective product suite of software solutions from Unicommerce and Shipway will be transformative, offering an unparalleled, one-stop, seamless solution to simplify e-commerce for businesses in India, including and beyond our more than 6500 customers,” Unicommerce eSolutions, MD and CEO, Kapil Makhija said.
