Unicommerce eSolutions Limited Acquires Shipway Technology

Unicommerce eSolutions Limited has successfully finalised its acquisition of the courier aggregation platform Shipway Technology by securing the remaining 57.24% stake in the business. This development transforms Shipway into a fully owned subsidiary of Unicommerce eSolutions Limited.

The company stated, “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.” As part of this process, Unicommerce will distribute 60,33,189 equity shares, employing a share swap ratio of 1:8.9.

Last December, Unicommerce had acquired a 42.76% interest in Shipway for Rs 68.4 crore. The agreement allowed Unicommerce to complete the acquisition within a year’s timeframe, but the rapid completion signifies a swift integration, according to the company.

Enhancing Ecommerce Solutions

This acquisition enables Unicommerce to enhance its addressable market and introduce an expanded, integrated suite of ecommerce enablement solutions, effectively positioning the company as a comprehensive technology provider.

Broadened Client Base Post-Acquisition

Following the acquisition, the merged client portfolio boasts over 7,000 businesses catering to more than 10,000 brands across India, with a minimal overlap of just 5%. Furthermore, this acquisition presents immediate cross-sell possibilities for all businesses, according to Unicommerce.

Shipway’s Full-Stack Logistics Management

Shipway operates as a full-stack logistics management platform, providing services in courier aggregation and shipping automation.

Stake Increase by Unicommerce Promoters

Earlier this month, the promoters of Softbank-backed Unicommerce, Kunal Bahl and Rohit Bansal, increased their ownership in the company by acquiring additional shares from the market.