Unicommerce completes 100% buyout of leading courier aggregation platform Shipway

Unicommerce eSolutions Limited today announced the completion of its acquisition of the remaining 57.24% stake in leading courier aggregation platform Shipway Technology Private Limited. The company acquired a 42.76% stake in Shipway Technology Private Limited on December 17, 2024, for a value of Rs 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. With this acquisition, Shipway will become a wholly owned subsidiary of Unicommerce eSolutions Limited.

The Board of Directors of Unicommerce approved the acquisition of the remaining stake on March 20, 2025, subject to shareholders' approval.

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's solutions serve all the key processes of an e-commerce business. 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. 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 is a clear number two in the field with a strong presence and a footprint spanning 29,000 pin codes.Shipway is integrated with India's top courier network of 15+ courier partners at attractive prenegotiated shipping rates, allowing brands to save on their shipping costs. It also offers automated solutions to help brands choose the right courier for various shipments, and other solutions help brands save money on RTOs, lower customer service costs, etc.

Shares of Unicommerce Esolutions Limited was last trading in BSE at Rs. 120.65 as compared to the previous close of Rs. 120.80. The total number of shares traded during the day was 54837 in over 643 trades.

The stock hit an intraday high of Rs. 124.80 and intraday low of 120.00. The net turnover during the day was Rs. 6697404.00.

Source : Equity Bulls

Keywords

UnicommerceEsolutions INE00U401027 SoftwareProducts Acquisition ShipwayTechnology