MANAMA: Investcorp 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.
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 Bangalore, 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.
It currently serves more than 350 SMEs in the approximate $10 billion market for providing software solution services to distribution and retail businesses operating in the US.
Led by chief executive Suchit Bachalli as, Unilog’s SaaS business has grown its revenues three-fold since FY2018.
Investcorp’s capital backing is expected to support further platform innovation and customer acquisition.
“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,” said Investcorp India Private Equity head Gaurav Sharma.
In India, Investcorp invests in mid-market companies across consumption-linked sectors, targetting opportunities across the consumer tech, healthcare, financial services and technology sector.
Unilog represents the firm’s 10th investment in India over the last four years.
Meanwhile, Frances Townsend, a former chair of the US Homeland Security Council, has joined Investcorp’s board of directors.
In a separate announcement, the Bahrain-based alternative investment manager said Ms Townsend is among 10 directors that have joined its 15 member board in the past five years.
She is emeritus vice-chairman at MacAndrews & Forbes and has previously served as advisor to US President George W. Bush for homeland security and counterterrorism.
Ms Townsend was the first assistant commandant for intelligence for the US Coast Guard and spent 13 years at the US Department of Justice in various senior positions.
Commenting on the appointment, Investcorp executive chairman Mohammed Alardhi said: “We believe that Frances is an excellent addition to our board, bringing significant legal and global business experience in both the public and private sectors. She is a highly accomplished executive and we are confident that she will make many meaningful and long-lasting contributions to our firm.”
She is a member of the Council on Foreign Relations and the Trilateral Commission, and is currently a director of Chubb, Freeport-McMoRan and SciPlay Corporation.
Ms Townsend received her JD degree from the University of San Diego School of Law after graduating from American University where she received a BA in Political Science and a BS in Psychology.
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