NSE:UNIECOM:Rs.195 (-0.91%) on 12-nov-2024 at 12:13 pm
Unicommerce eSolutions Limited is a SaaS platform that manages e-commerce operations for brands, sellers, and logistics providers.
Unicommerce e-Solutions Limited, a subsidiary of AceVector Limited, is acquiring Shipway Technology Private Limited, a technology automation company based in Gurugram. The acquisition will occur in multiple tranches, with the first tranche concluding in Q3 of FY 2024-25 and the remaining by the end of Q3 FY 2025-26.
- First Tranche: Unicommerce will acquire 42.76% of Shipway’s share capital on a fully diluted basis for a cash payment of INR 68,40,85,710.
- Subsequent Tranches: The remaining stake will be acquired through a merger or stock swap, involving a preferential issue of equity shares of Unicommerce, pending board and shareholder approvals.
- Subsidiary Status: Upon completion of the first tranche, Shipway will become a subsidiary of Unicommerce.
Strategic Rationale
- Objective: Strengthen Unicommerce’s capabilities in the e-commerce enablement sector.
- Target Company’s Platforms:
- Shipway: A courier aggregation and shipping automation platform.
- ConvertWay: A customer data and marketing automation platform specializing in SMS and WhatsApp communications.
- Expected Outcome: Enhanced pre- and post-purchase customer relationships in the growing e-commerce market.
About Shipway Technology Private Limited
- Incorporation: 2015
- Business Focus: SaaS products for e-commerce enablement.
- Platforms: Advanced shipping automation through Shipway and data-driven marketing via ConvertWay.
- Financial Performance:
- FY 2023-24: INR 425.56 million
- FY 2022-23: INR 101.72 million
- FY 2021-22: INR 49.92 million
Additional Information
- Approvals: The transaction is subject to member approval at an Extraordinary General Meeting and any necessary authority permissions.
This acquisition supports Unicommerce’s mission to deepen its technology offerings across key stages of the e-commerce lifecycle.
