Unicommerce’s Full Acquisition of Shipway

E-commerce SaaS company Unicommerce has confirmed its 100% acquisition of Shipway. The company, owned by Ace Vector, had previously taken over more than 42% of the shipping solution provider late last year.

Details of the Acquisition

According to a filing regarding a preferential issue, Unicommerce eSolutions plans to issue 60,33,189 equity shares in order to purchase 7,610 equity shares of Shipway from its shareholders Vikas Garg, Gaurav Gupta, and Puneet Gupta through a share swap approved by SEBI.

Previous Investment

In November of the previous year, Unicommerce secured a 42.7% share in Shipway for Rs 68.4 crore, aiming to broaden its product offerings.

Shipway’s Background

Shipway, founded in 2015 by Gaurav Gupta and Vikas Garg, delivers post-purchase automation solutions designed for D2C brands. In 2021, IndiaMART InterMESH purchased a 26% stake in Shipway for Rs 18.2 crore.

Unicommerce’s Reach

Unicommerce partners with premier brands, marketplaces, and logistics providers in India to facilitate comprehensive management of e-commerce operations. Its presence extends beyond India into the Middle East and Southeast Asia (SEA).

Financial Performance

Unicommerce, which went public in August of the previous year, recorded a revenue of Rs 29.3 crore in Q2 FY25, boasting a profit after tax of Rs 4.4 crore.