Tech-enabled logistics startup Shiprocket has acquired textile company Arvind's omnichannel technology business Omuni for about Rs 200 crore in a mix of cash and equity deal, the company said on Tuesday.
The deal comes about a month after Shiprocket acquired a majority stake in logistics firm Pickrr for $200 million in a mix of equity and cash transaction.
"The transaction will be carried out as a combination of stock and cash for a total consideration of Rs 200 crore. The combination of both entities will facilitate quick, efficient deliveries of shipments from the nearest store or warehouse, significantly reducing delivery timelines and enhancing customer experience, Shiprocket said in a statement.
With most retailers adopting an omnichannel retail strategy to cater to consumers across digital and physical storefronts, the Shiprocket-Omuni acquisition deal will deliver a more robust and seamless post-purchase experience to customers, the statement said.
Both Shiprocket and Omuni are integral partners in a larger direct-to-consumer (D2C) commerce enablement segment.
Shiprocket claims to have over 2.5 lakh sellers as customers who generate a gross merchandise value of more than $2.5 billion annually.
"We are pleased to announce the deal and excited to have Omuni as a part of the ever-growing Shiprocket family. Omuni's SaaS products will allow us to unify inventory, order, catalog, content, pricing, and data across physical and digital storefronts for the best possible e-commerce experience for customers.
"Together, we aim to redefine e-commerce logistics through omnichannel retail enablement," Shiprocket co-founder and CEO Saahil Goel said.
According to Shiprocket, it delivers packets to more than 70 million consumers annually and its transactions are growing 2.5-3 times year-on-year.
"We are delighted with the merger of our technology division into Shiprocket. We have built Omuni into an industry leading product used by some of the largest brands in the country.
"By combining our retail stack with the Shiprocket Ecosystem we will be able to make the extensive inventory of retail stores available to be sold seamlessly via Shiprocket's logistics as a service solution," Arvind Ltd executive director, Kulin Lalbhai said.
