E-commerce SaaS company Unicommerce eSolutions has completed the acquisition of the remaining 57.24 per cent stake in courier aggregation platform Shipway Technology following a 42.76 per cent stake purchase in the company in December last year for Rs 68.4 Crores.
In a stock exchange filing, Unicommerce said the buyout is facilitated via a preferential issue of equity shares by the company in exchange for shares of Shipway held by its promoters and individuals other than the promoter.
Unicommerce said it will issue 60,33,189 equity shares of the company with the share swap ratio being 1:8.9.
Shipway, following the deal, has become the wholly owned subsidiary of Unicommerce eSolutions Limited. The latter’s board of directors had approved the acquisition of the remaining stake on Thursday (March 20, 2025).
The deal allows Unicommerce, which caters to retail and e-commerce enterprises, to expand its total addressable market and roll-out an expanded and integrated suite of technology products. It currently offers solutions for the backend operations of e-commerce businesses, including inventory management, order processing across multiple channels, warehouse operations, and seamless handling of return inventory.
On the other hand, Shipway, a full-stack logistics management platform, offers courier aggregation and shipping automation.
Following the acquisition, the combined client of Unicommerce and Shipway spans over 7000 businesses serving more than 10,000 brands in India.
With more than 35 million annual transactions across the courier aggregation and automation space, Shipway said it is the number two player in the field with a strong presence and a footprint spanning 29,000 pin codes.
The e-commerce software market in India is expected to see $117.86 million revenue by 2025 and grow at a compound annual growth rate of 10.83 per cent to $177.85 million by 2029, as per Statista.