Unicommerce eSolutions Takes Full Control of Shipway Technology

Unicommerce eSolutions has acquired the remaining 57.24% stake in Shipway Technology, making it a wholly-owned subsidiary. This strategic purchase is expected to boost Unicommerce's product offerings in e-commerce enablement technology, enhancing its market reach and creating new cross-selling opportunities for over 10,000 brands in India.

Unicommerce eSolutions has successfully acquired the remaining 57.24% stake in Shipway Technology, a courier aggregation platform, transforming it into a wholly-owned subsidiary. This acquisition was initially set into motion with a 42.76% stake purchase in December 2024, valued at Rs 68.4 crore. The full acquisition reflects a strategic move to rapidly integrate and expand its technological offerings in the e-commerce sector.

The acquisition, as outlined in a BSE filing, is to be executed through a preferential issuance of equity shares by Unicommerce in exchange for Shipway's shares. The share swap ratio is determined at 1:8.9. Unicommerce will issue 60,33,189 equity shares, effectively completing the buyout.

The integration is a part of Unicommerce's goal to broaden its service capabilities, targeting the large, diverse e-commerce market. Serving over 7,000 businesses and over 10,000 brands, Unicommerce aims to leverage the acquisition for cross-selling opportunities with minimal client overlap. Uniware's backend operations and Shipway's logistics solutions create a unified platform for comprehensive e-commerce solutions.

(With inputs from agencies.)