Investcorp, a Bahrain-based asset manager that counts Mubadala Investment Company as its biggest shareholder, announced that it has entered into an agreement to acquire Unilog, a Software as a Service (SaaS) based e-commerce solutions provider to small and medium businesses based in the United States.
Investcorp’s capital backing is expected to support further platform innovation and customer acquisition, said a statement issued by Investcorp on Sunday. Terms of the transaction were not disclosed.
Unilog is a global technology company that delivers powerful, affordable e-commerce solutions and product data enrichment services for the B2B marketplace. It is headquartered in greater Philadelphia, Pennsylvania and has international headquarters in Bengaluru in India. Unilog’s cloud-based commerce platform and product data enrichment services help distributors, manufacturers, and wholesalers increase online sales, reduce cost to serve, and enhance their digital channel.
“Unilog presents an attractive opportunity, as it operates in a large and growing addressable market driven by e-commerce adoption, which has only been further accelerated amidst COVID-19. We believe that Unilog is extremely well-positioned to benefit from this megatrend with a proven and experienced management team led by Suchit,” Gaurav Sharma, Head of Private Equity of Investcorp India, said.
In turn, Tarek AlMahjoub, Head of UAE and Oman for Investcorp’s Private Wealth, commented, “At Investcorp, we have strong institutional knowledge of the B2B digital commerce software sector, with professionals that bring in over 15 years of combined experience of investing in the segment. We believe Unilog is extremely well-positioned to benefit from the shifting consumer patterns and rapid e-commerce adoption amidst COVID-19.”
Since its inception, Investcorp has made approximately 200 private equity investments in the US, Europe, the Middle East and North Africa region and Asia, across a range of sectors. Investcorp has established a market leading position of investing in lower mid-market technology companies with a specific focus on Software, Data / Analytics, Cyber Security and Fintech / Payments.
Unilog currently serves more than 350 small and medium enterprises in the approximate US$10 billion market for providing software solution services to distribution & retail businesses operating in the US. Led by CEO Suchit Bachalli, Unilog’s SaaS business has grown its revenues three times since FY2018.
