Latest News | Unicommerce Completes 100 Pc Buyout of Courier Aggregation Platform Shipway
Get latest articles and stories on Latest News at LatestLY. Unicommerce eSolutions has announced the completion of acquisition of the balance 57.24 per cent stake in courier aggregation platform Shipway Technology.
New Delhi, Mar 21 (PTI) Unicommerce eSolutions has announced the completion of acquisition of the balance 57.24 per cent stake in courier aggregation platform Shipway Technology.
The company had acquired a 42.76 per cent stake in Shipway Technology on December 17, 2024, for a value of Rs 68.4 crore.
With the acquisition of the remaining stake, Shipway will become a wholly-owned subsidiary of Unicommerce eSolutions.
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, according to a BSE filing.
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 per cent stake in Shipway within a year, the accelerated acquisition signals a quick integration," the company release attached to the filing said.
It has 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.
On the dynamics of the buyout, it informed that post-acquisition, the combined client base spans 7,000-plus businesses serving over 10,000 brands in India. With only a 5 per cent overlap in the clients of Unicommerce and Shipway, it also offers immediate cross-sell opportunities for all businesses and significantly expands the addressable market.
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.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)