Unicommerce Announces Acquisition Of Shipway In Phased Equity And Cash Deal
In the first tranche, Unicommerce will acquire a 42.76 per cent stake in Shipway for a cash consideration of Rs 68.4 crore and the rest of the stake within a year by way of a merger or stock swap through an issue of equity shares.
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E-commerce SaaS platform for logistics Unicommerce will acquire a Gurugram-based e-commerce technology firm Shipway in a mix of equity and cash deal in phases, the company said on Monday.
In the first tranche, Unicommerce will acquire a 42.76 per cent stake in Shipway for a cash consideration of Rs 68.4 crore and the rest of the stake within a year by way of a merger or stock swap through an issue of equity shares.
“In the first tranche of the deal, Unicommerce is acquiring 42.76 per cent stake in Shipway for a cash consideration of Rs 68.4 crores. Unicommerce will acquire the balance stake in Shipway within one year by way of a merger or stock swap through an issue of equity shares to complete a 100 per cent stake acquisition,” Unicommerce said in a statement.
The acquisition will expand Unicommerce’s product suite to include solutions for courier aggregation, shipping automation and returns reduction.
The acquisition will also enable Unicommerce to offer an integrated marketing platform with AI-enabled, automated solutions that allow brands and retailers to target buyers with personalised, segmented and wide-reach marketing campaigns to increase conversions, the statement said.
“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.
As part of the acquisition, the Shipway team will continue to grow the Shipway and ConvertWay businesses.
"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,” the statement said.
