Devsinc Acquires Alchemative, Aiming to Dominate the $22B Regional Digital Retail and eCommerce Market, including Pakistan, UAE, and KSA.
Devsinc Acquires Alchemative to Dominate eCommerce Market
Devsinc, one of Pakistan’s largest IT firms and a rising global technology leader, has announced the 100% acquisition of Alchemative Group, a leading provider of eCommerce and digital retail solutions.
Temu Rival of AliExpress Launched in Pakistan
This strategic acquisition solidifies Devsinc’s presence in key markets, including Pakistan, UAE, and Saudi Arabia, collectively valued at over $22 billion.
Thriving eCommerce Markets in the Region
- Saudi Arabia: Valued at $8.7 billion in 2023, the largest in the GCC.
- UAE: Expected to reach $6.98 billion by 2024 with an 8.62% CAGR through 2029.
- Pakistan: Projected online retail sales surpassing $7 billion by 2025, growing annually by over 18%.
Key Opportunities from the Acquisition
- Strengthening Enterprise Partnerships
- Enhancing Technology Solutions
- Scaling UnumPay
- Expanding Digital Presence in eCommerce
Integration of UnumPay
The acquisition includes UnumPay, Pakistan’s leading payment platform with a 24% market share and a client base of 1,200 businesses. UnumPay has gained traction across dozen global markets, further enhancing Devsinc’s fintech capabilities.
Leaders’ Perspectives: Devsinc Acquires Alchemative to Lead $22B Digital Retail Market
Usman Asif, CEO of Devsinc:
“Alchemative’s expertise complements our mission to enable global businesses with cutting-edge solutions. Together, we will redefine how enterprises grow, innovate, and succeed in the digital space.”
Umar Rana, CEO of Alchemative:
“Partnering with Devsinc is a transformative milestone. Our combined expertise in eCommerce and digital retail will deliver unparalleled value to clients, accelerating digital transformation across the region.”
This acquisition positions Devsinc and Alchemative to lead the future of digital retail and eCommerce, driving innovation and technological excellence across key global markets.
Devsinc Acquires Alchemative, Aiming to Dominate the $22B Regional Digital Retail and eCommerce Market, including Pakistan, UAE, and KSA.
Note: The information above might not be accepted 100%. Please verify from your own sources. We will not be responsible for any kind of loss due to our content.
For more news, please visit Munafa Marketing.
