Devsinc has announced the acquisition of Alchemative Group. This acquisition marks a strategic step in Devsinc’s ongoing mission to deliver transformative technology solutions across global markets. The move is expected to strength Devsinc’s footprint in key regions, including Pakistan, the UAE, and Saudi Arabia, whose combined retail and eCommerce markets are valued at over $22 billion. With this acquisition, Devsinc is poised to tap into the booming retail and eCommerce sectors in these regions, where digital transformation is accelerating at an unprecedented pace.
The eCommerce landscape in Saudi Arabia, the UAE, and Pakistan has seen explosive growth in recent years, and this trend is expected to continue. Saudi Arabia’s eCommerce sector was valued at $8.7 billion in 2023, making it the largest in the Gulf Cooperation Council (GCC). The UAE’s eCommerce market is also flourishing, projected to reach $6.98 billion by 2024, with a compound annual growth rate (CAGR) of 8.62% through 2029. Meanwhile, Pakistan’s eCommerce market is rapidly expanding, with online retail sales anticipated to surpass $7 billion by 2025. The country’s growth is further fueled by its young, tech-savvy population and increasing internet penetration, which reached 36% of the population in 2023. This growth is accompanied by a surge in demand for digital solutions such as Salesforce, Shopify, and digital payment platforms.
The acquisition of Alchemative Group allows Devsinc to strengthen its enterprise partnerships, enhance its technology solutions, and scale its presence in the eCommerce and digital retail sectors. Additionally, the deal includes UnumPay, Pakistan’s leading payment platform with a market share of 24% and a client base of 1,200 businesses out of the country’s 5,000. UnumPay’s presence in over a dozen countries enhances Devsinc’s fintech capabilities, positioning the company to tap into the lucrative global payment solutions industry. With eCommerce and digital retail continuing to be high-growth areas, Devsinc is poised to unlock numerous opportunities through this acquisition, further solidifying its position as a global technology leader.
Usman Asif, CEO of Devsinc, expressed his excitement about the acquisition, saying,
“Alchemative’s exceptional capabilities in eCommerce and digital retail complement our mission to enable global businesses with cutting-edge solutions. Together, we will redefine how enterprises leverage technology to grow, innovate, and succeed.”
Umar Rana, CEO of Alchemative, shared his enthusiasm about the merger, stating,
“Joining forces with Devsinc is a transformative moment for Alchemative. Their global scale and expertise, combined with our deep specialization in eCommerce and digital retail, will allow us to deliver even more value to our clients. This partnership will accelerate our shared vision for redefining digital transformation in the region and beyond.”
As Devsinc moves forward with the integration of Alchemative and UnumPay into its operations, the company is poised to leverage its combined expertise to offer innovative solutions that meet the growing demands of the digital economy. With a strengthened presence in key markets, Devsinc is well-positioned to continue its growth and deliver value to its clients, while driving the digital transformation of businesses across the region and the globe.
