Devisnc, Pakistan’s leading IT Company has announced the acquisition of Alchemative Group of UAE, which provides eCommerce and digital retail solutions along with the UnumPay payment gateway. With this acquisition, Devsinc is entering the 7 billion dollars (AED 26 billion) thriving UAE digital retail market that opens up its way of expansion in the broader ME region.
PC: Business Recorder
Alchemative – Pioneering Change in eCommerce
Headquartered in Dubai, Alchemative comes with more than 11 years of experience in eCommerce and digital retail solutions. It caters to over 800 global clients from 15+ countries in terms of state-of-the art omnichannel retail, Shopify apps, ERP integration, and optimization of logistics. Processing more than 20 million orders every month, Alchemative enables business with scalable SaaS models, allowing growth as well as operational efficiency.
Devsinc’s Growth Strategy
This acquisition will allow Devsinc to expand its presence in the digital retail and eCommerce markets, based on its expertise in software development. With a history of completing 3,000 projects across 23 countries, Devsinc is looking to improve its capacity to serve existing North American clients while entering the competitive markets of the UAE and the broader GCC region.
Usman Asif, Devsinc’s CEO, said, “Alchemative’s capabilities in digital retail and eCommerce align with our mission to support businesses with innovative solutions that foster growth and efficiency.”
Devsinc, a company delivering bespoke software solutions, has 2,000 skilled engineers that specialize in enterprise-grade services across 23 IT-enabled solutions, including 10 industries and 4 continents. This company is driven by innovation to develop secure and scalable technology solutions that enable sustainable business growth in rapidly evolving markets. Integration of UnumPay
In addition, Alchemative’s UnumPay is included in the acquisition. It is a payment gateway with a market share of 24% and serves 1,200 businesses in Pakistan. The upgrade improves Devsinc’s fintech capabilities such that it can respond to the increasing needs for digital payments from the eCommerce sector in the UAE.
Umar Rana, CEO of Alchemative, said, “Partnering with Devsinc enables us to leverage their global reach and expand the value we deliver to our clients, particularly in the Middle East.”
Devsinc’s UAE Roadmap
With the acquisition, Devsinc has outlined a comprehensive roadmap for its operations in the UAE:
- Enterprise Partnerships: Delivering tailored eCommerce solutions for platforms like Salesforce and Shopify.
- Technology Innovation: Providing AI-driven and cloud-based solutions to improve operational efficiency.
- Scaling UnumPay: Localizing payment solutions to meet the specific demands of the UAE’s growing eCommerce sector.
- Digital Transformation: Supporting government-led initiatives for smart cities and digital-first economies.
Retail Market Growth in the Region
Retail and e-commerce industries are growing significantly in the United Arab Emirates and Saudi Arabia. The UAE eCommerce market is likely to reach 6.98 billion dollars in 2024 with a compound annual growth rate of 8.62% in 2029, and Saudi Arabian eCommerce market with the value of $8.7 billion leads among all countries of the GCC, which presents additional opportunities for further expansion.
This is a strategic move for Devsinc as it steps into the Middle Eastern market to expand its competencies in eCommerce, fintech, and digital transformation.
