Dubai: Bahrain’s Investcorp has signed an agreement to acquire Unilog, an Indian e-commerce solutions provider.
Investcorp’s backing is expected to support further platform innovation and customer acquisition. The financial terms of the transaction were not disclosed.
“Unilog presents an attractive opportunity, as it operates in a large and growing addressable market driven by e-commerce ladoption, which has only been further accelerated amidst COVID-19,” said Gaurav Sharma, Head of Private Equity, Investcorp India.
Unilog currently serves more than 350 small and medium enterprises in the approximate $10 billion market for providing software solution services to distribution and retail businesses operating in the US. Since its inception, Investcorp has made about 200 private equity investments in the US, Europe, the Middle East and North Africa region and Asia, across a range of sectors.
“We believe Unilog is extremely well-positioned to benefit from the shifting consumer patterns and rapid e-commerce adoption amidst COVID-19,” said Tarek AlMahjoub, Head of UAE and Oman for Investcorp’s Private Wealth.
“The company has a proven management team that has demonstrated strong business fundamentals, and we look forward to partnering with them,” he added.