Unicommerce acquires Shipway Technology, enhancing ecommerce offerings

Unicommerce has completed the acquisition of Shipway Technology, making it a wholly owned subsidiary. Unicommerce now owns 100% of Shipway after acquiring the remaining 57.24% stake. This move will boost Unicommerce's market reach and product offerings. The acquisition was valued at Rs 68.4 crore and involved a share swap. Unicommerce will issue over 60 lakh shares to Shipway’s promoters and other individual shareholders, at a ratio of 1 share in Shipway for every 8.9 shares in Unicommerce. The deal received board approval on March 20 and now awaits shareholder approval. With this acquisition, Unicommerce serves over 7,000 businesses and more than 10,000 brands, with only a 5% overlap among clients. Shipway currently processes more than 35 million transactions each year, operating in 29,000 pin codes and partnering with over 15 courier services. Unicommerce expects significant growth in the coming quarters as ecommerce continues to expand. The company aims to increase its total addressable market, acquire new clients, and expand its product lineup. Unicommerce went public in August 2024, with a successful IPO that was nearly 170 times subscribed. Some of Unicommerce's notable clients include FabIndia, Lenskart, and Mamaearth. On the BSE, Unicommerce's shares rose to Rs 123.70, marking an increase of 2.53%.