Unicommerce eSolutions has completed the acquisition of the remaining 57.24% stake in leading courier aggregation platform Shipway Technology. The company acquired a 42.76% stake in Shipway Technology on December 17, 2024, for a value of Rs 68.4 crore.
The acquisition will be facilitated through a preferential issue of equity shares by Unicommerce in exchange for shares of Shipway held by its promoters and individuals other than the promoter. Unicommerce will issue 60,33,189 equity shares of the Company, with the share swap ratio being 1:8.9. With this acquisition, Shipway will become a wholly owned subsidiary of Unicommerce eSolutions.
The Board of Directors of Unicommerce approved the acquisition of the remaining stake on March 20, 2025, subject to shareholders’ approval. While the terms of the acquisition in December 2024 allowed Unicommerce to complete the acquisition of a 100% stake in Shipway within a year, the accelerated acquisition signals a quick integration. It has also enabled Unicommerce to expand its total addressable market and roll-out an expanded and integrated suite of technology products making it a one-stop shop for all e-commerce enablement technology solutions.
Unicommerce eSolutions is an e-commerce enablement Software-as-a-Service (SaaS) platform in the transaction processing or nerve centre layer.
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