Unicommerce Completes Shipway Technology Acquisition, Now Owns 100% Stake

Unicommerce eSolutions Limited has finalized its acquisition of courier aggregation platform Shipway Technology. Unicommerce has acquired the remaining 57.24% stake in Shipway Technology, making the platform its wholly owned subsidiary.

The deal involves a share swap, with Unicommerce issuing 60,33,189 equity shares in exchange for Shipway shares at a ratio of 1:8.9. The transaction exchanges shares held by Shipway's promoters and other individuals. Unicommerce first purchased a 42.76% stake in Shipway for Rs 68.4 crore last December. Though they had a year to complete the acquisition, they fast-tracked the process.

"We're strengthening our market position with this strategic move," a company insider said. The takeover lets Unicommerce offer more comprehensive e-commerce services to online retailers. The merged operation now works with over 7,000 businesses and serves over 10,000 brands across India. With just 5% client overlap, both companies see significant cross-selling potential.

With courier aggregation and shipping automation tools, Shipway brings valuable logistics know-how that helps merchants ship products efficiently. This deal follows recent market moves by Softbank-backed Unicommerce's founders Kunal Bahl and Rohit Bansal, who recently bought more company shares, highlighting their confidence in this growth strategy.

Combining inventory management with Shipway's delivery tools, Unicommerce provides complete e-commerce solutions from warehouse to doorstep.