Devsinc, one of Pakistan’s leading IT companies, has announced the complete acquisition of Alchemative Group, a prominent name in eCommerce and digital retail solutions. This strategic move solidifies Devsinc’s position in the burgeoning digital retail and eCommerce markets across Pakistan, the UAE, and Saudi Arabia, collectively valued at over $22 billion.
The acquisition underscores Devsinc’s mission to deliver transformative technology solutions and expand its footprint in key regional markets. With Saudi Arabia’s eCommerce sector valued at $8.7 billion in 2023, the UAE projected to reach $7 billion by 2024, and Pakistan’s online retail sales forecasted to exceed $7 billion by 2025, the opportunities in the sector are immense.
The eCommerce landscape in these regions is rapidly evolving. Saudi Arabia leads the Gulf Cooperation Council (GCC) with its robust digital retail market, while the UAE is experiencing a compound annual growth rate (CAGR) of 8.62% through 2029. Pakistan, with its young, tech-savvy population and increasing internet penetration—reaching 36% of the population in 2023—is also witnessing exponential growth in digital retail, Salesforce, Shopify, and payment solutions.
Devsinc’s acquisition of Alchemative opens significant avenues for growth. Alchemative’s expertise in eCommerce and its technological capabilities will enable Devsinc to strengthen enterprise partnerships, enhance its digital payment solutions, and scale its presence in the digital retail sector.
One of the key assets in this acquisition is UnumPay, Pakistan’s leading payment platform. With a 24% market share and 1,200 clients out of the country’s 5,000 businesses, UnumPay provides Devsinc with a robust fintech foundation. The platform’s growing traction in over a dozen countries further enhances Devsinc’s ability to compete in the regional and global fintech markets.
Devsinc’s plan to integrate Alchemative into its operations aims to leverage cutting-edge technology to meet the demands of the dynamic eCommerce industry. The acquisition will foster innovation, enable scalability, and position Devsinc as a pivotal player in the regional digital retail and eCommerce ecosystem.
By capitalizing on the rapidly expanding market, Devsinc aims to address the evolving needs of businesses and consumers alike. The demand for seamless digital payment systems, personalized shopping experiences, and robust enterprise solutions continues to grow, driven by the increasing reliance on online platforms for retail.
The acquisition aligns with Devsinc’s vision of transforming the technology landscape in the region. By combining Alchemative’s market expertise with Devsinc’s global technology capabilities, the company is well-positioned to lead the digital retail and eCommerce transformation in Pakistan and beyond.
This strategic acquisition not only strengthens Devsinc’s presence in the regional market but also highlights its commitment to fostering innovation and driving economic growth through technology. As the eCommerce and digital retail sectors continue to expand, Devsinc’s enhanced capabilities will play a key role in shaping the future of the industry.