The acquisition is being executed through a preferential issue of equity shares by Unicommerce in exchange for shares held by Shipway’s promoters and other stakeholders
New Delhi: Unicommerce eSolutions Limited has announced the completion of its acquisition of Shipway Technology Private Limited, a leading courier aggregation platform, the company said in a release on Friday. The company now holds a 100% stake in Shipway after acquiring 57.24% of its shares. This follows its initial acquisition of a 42.76% stake in December 2024 for Rs 68.4 crore.
The acquisition is being executed through a preferential issue of equity shares by Unicommerce in exchange for shares held by Shipway’s promoters and other stakeholders. As part of the transaction, Unicommerce will issue 60,33,189 equity shares of the company, with the share swap ratio set at 1:8.9. Following this process, Shipway will become a wholly owned subsidiary of Unicommerce eSolutions Limited. The Unicommerce Board approved the acquisition of Directors on 20 March 2025 and is subject to shareholders’ approval.
While the original terms allowed Unicommerce to acquire full ownership within a year, the accelerated acquisition reflects a strategic move to strengthen its position in the e-commerce enablement sector. By integrating Shipway’s capabilities, Unicommerce aims to expand its total addressable market and offer a more comprehensive suite of technology solutions to businesses, further reinforcing its role as a one-stop provider of e-commerce technology.
Unicommerce’s technology platform supports businesses across multiple aspects of e-commerce operations. Its flagship Uniware platform streamlines backend operations, including inventory management, multi-channel order processing, warehouse operations, and seamless returns management. Shipway, which functions as a full-stack logistics management platform, offers courier aggregation and shipping automation, handling over 35 million transactions annually across 29,000 pin codes. Additionally, Convertway, an AI-driven marketing automation platform, is designed to enhance conversions and sales.
With this acquisition, the combined client base of Unicommerce and Shipway now extends to over 7,000 businesses and 10,000 brands across India. With only a five per cent overlap between their existing customers, the deal presents significant cross-sell opportunities and substantially increases the addressable market.
Shipway is currently the second-largest player in the courier aggregation and automation space in India, offering integration with over 15 leading courier partners at pre-negotiated shipping rates, enabling brands to save on logistics costs. The platform also provides automated solutions to optimize courier selection for shipments and reduce return-to-origin (RTO) losses, ultimately lowering customer service expenses.
Unicommerce, founded in 2012, is a leading SaaS platform for e-commerce enablement, serving clients across India, Southeast Asia, and the Middle East. The company’s key customers include FabIndia, Lenskart, Timex, Mamaearth, Sugar, Emami, Urban Company, boAt, and Mensa Brands, among others. Its Uniware platform processed over one billion order items on an annualized basis as of Q3 FY25. Unicommerce is ISO 27001 and ISO 27701 certified and is listed on the National Stock Exchange of India Limited and BSE Limited.
