Unicommerce strengthens e-commerce dominance with Full Shipway acquisition

Unicommerce eSolutions Limited has finalized the full acquisition of Shipway Technology Private Limited, a key player in India‘s courier aggregation and logistics automation sector. The transaction marks a strategic expansion for Unicommerce, further consolidating its role as a comprehensive e-commerce technology provider. By integrating Shipway’s advanced shipping and automation capabilities, Unicommerce aims to streamline logistics, reduce costs for businesses, and unlock cross-selling opportunities across its growing client base.

With the deal’s completion, Shipway becomes a wholly owned subsidiary of Unicommerce, following the latter’s initial 42.76% stake purchase in December 2024 for ₹68.4 crore. The remaining 57.24% stake was acquired through a share swap, where Unicommerce issued 60,33,189 equity shares based on a 1:8.9 swap ratio. The acquisition was formally approved by Unicommerce’s Board of Directors on March 20, 2025, with shareholder approval pending.

What Does the Shipway Acquisition Mean for Unicommerce’s Market Expansion?

Unicommerce’s decision to accelerate the acquisition process, completing the buyout well ahead of its one-year window, underscores its aggressive expansion strategy. With India’s e-commerce logistics market projected to grow significantly, Unicommerce is positioning itself to capture a larger share of the sector.

The deal enhances Unicommerce’s total addressable market, as Shipway’s technology complements its existing portfolio. Unicommerce already offers Uniware, a widely used e-commerce inventory and order management system, alongside Convertway, an AI-powered marketing automation platform. By integrating Shipway’s logistics automation and courier aggregation capabilities, Unicommerce is set to become a one-stop provider of end-to-end e-commerce solutions, catering to businesses seeking seamless order processing, shipping automation, and marketing optimization.

How Will Shipway’s Logistics Capabilities Strengthen Unicommerce?

Shipway has built a strong presence in India’s logistics automation landscape, handling over 35 million annual transactions and operating across 29,000 pin codes. Its pre-negotiated shipping rates with more than 15 leading courier partners allow brands to optimize delivery costs, ensuring affordable and efficient logistics management.

The platform also provides automated courier selection tools, enabling businesses to identify the most cost-effective and reliable shipping options for different regions. Its return-to-origin (RTO) optimization tools help brands minimize financial losses, while additional features reduce customer service costs by automating order tracking and shipment updates.

Unicommerce’s acquisition of Shipway brings immediate cross-sell opportunities, as only 5% of their existing clientele overlaps. This means both platforms can introduce their solutions to each other’s customer bases, driving adoption and increasing market penetration.

Who Are the Key Clients Benefiting from This Integration?

Unicommerce serves an extensive client base of over 7,000 businesses and 10,000+ brands across India, Southeast Asia, and the Middle East. Notable names in its portfolio include FabIndia, Lenskart, Timex, TCNS, Mamaearth, Sugar, Emami, Urban Company, Blue Star, Cello, Symphony, Healthkart, GNC, boAt, and Portronics.

The acquisition provides these brands with an integrated logistics and e-commerce management system, simplifying backend operations. Businesses using Unicommerce’s solutions will now have access to automated shipping optimization, real-time tracking, and data-driven logistics insights, creating a smoother supply chain experience.

What Is the Market Reaction to Unicommerce’s Expansion Strategy?

Following the acquisition announcement, Unicommerce’s stock (NSE: UNIECOM) closed at ₹123.75 on March 21, 2025, marking a 2.81% increase from the previous close. While the stock remains 28.87% above its 52-week low of ₹96.03, it is still significantly below its 52-week high of ₹263.99, recorded in August 2024.

Despite a 25.11% decline in the past quarter, Unicommerce’s stock has gained 14.13% over the last five days, suggesting renewed investor confidence. Analysts attribute this upward momentum to expectations of long-term revenue growth and cost synergies resulting from Shipway’s integration.

Financially, Unicommerce reported a net profit of ₹6.34 crore in its most recent quarter, with a trailing twelve months (TTM) earnings per share (EPS) of ₹1.55. However, the company’s price-to-earnings (P/E) ratio of 80.03 is notably higher than the industry average of 43.64, indicating that the stock may be overvalued.

Should Investors Buy, Sell, or Hold Unicommerce Stock?

Given its high valuation and recent market fluctuations, analysts suggest that investors exercise caution before entering new positions. The elevated P/E ratio suggests that the stock is trading at a premium, and while the Shipway acquisition strengthens long-term growth prospects, its short-term financial impact remains uncertain.

For existing shareholders, holding onto the stock could be a strategic move, particularly as the integration of Shipway unfolds in the coming quarters. The key metric to watch will be how effectively Unicommerce leverages Shipway’s logistics expertise to drive operational efficiencies and revenue expansion.

How Does This Acquisition Position Unicommerce in the E-Commerce Technology Space?

As e-commerce businesses continue to seek cost-effective, automated logistics solutions, Unicommerce’s acquisition of Shipway aligns with a broader industry shift towards tech-driven supply chain management. Companies that can offer seamless integration across inventory, order fulfillment, and logistics automation are expected to have a competitive edge in the market.

Unicommerce’s sector-agnostic approach, serving businesses of all sizes and operational models, enhances its appeal across a wide range of industries. With an annualized transaction run rate exceeding 1 billion order items in Q3 FY25, the company is well-positioned for continued expansion across emerging e-commerce hubs.

The acquisition of Shipway, combined with Unicommerce’s existing portfolio of e-commerce enablement solutions, strengthens its foothold as a leader in logistics automation, inventory management, and AI-driven marketing solutions. As the post-acquisition integration progresses, businesses, investors, and industry stakeholders will be closely monitoring Unicommerce’s financial performance and strategic execution.