(Dubai, United Arab Emirates): Devsinc, one of Pakistan’s top IT companies, today announced the acquisition of Alchemative Group, a UAE-based provider of ecommerce and digital retail solutions and creator of the UnumPay payment gateway. The acquisition marks Devsinc’s expansion into key Middle Eastern markets, starting from the UAE, a USD7 billion (AED 26 billion) market, according to Statista research.
Alchemative, headquartered in Dubai, UAE, has more than 11 years of experience and serves 800+ global clients across 15+ countries. It drives innovation in eCommerce through omnichannel retail, Shopify apps, ERP integrations, and logistics optimization. The company processes over 20 million orders monthly, empowering businesses with scalable SaaS models.
With Alchemative acquisition in the UAE, Devsinc plans to enter in digital retail and eCommerce markets. It has a seamless track record of 3000 projects completion and delivery in over 23 countries. The new acquisition enhances Devsinc’s ability to provide services to its existing customers in North America as well.
Usman Asif, CEO of Devsinc, 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 empowers businesses worldwide with bespoke software solutions. With 2,000 skilled engineers, the company specializes in delivering enterprise-grade services across 23 IT and IT-enabled solutions, spanning 10 industries and 4 continents. Guided by innovation and excellence, the company builds tailored, scalable, and secure technology solutions, enabling clients to achieve sustainable growth in an ever-evolving market.
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.”
Acquisition of ‘UnumPay’ Payment Gateway
The acquisition also includes Alchemative’s UnumPay, a payment gateway which holds a staggering 24% market share with a client base of 1,200 businesses in Pakistan. The UnumPay addition enhances Devsinc’s fintech capabilities and positions it to address digital payment needs in markets such as the UAE.
Devsinc’s roadmap for UAE
- Enterprise Partnerships: Delivering tailored solutions for eCommerce platforms like Salesforce and Shopify.
- Technology Innovation: Offering cloud-based and AI-driven solutions to optimize operational efficiency.
- Scaling UnumPay: Localizing payment solutions to meet the demands of the UAE’s eCommerce sector.
- Digital Transformation: Aligning with government-led initiatives for smart cities and digital-first economies.
Retail and eCommerce Market Size UAE, KSA
The retail and eCommerce markets in the UAE and Saudi Arabia are seeing a significant growth. According to Statista, the UAE’s e-commerce market is projected $6.98 billion in 2024, with a CAGR of 8.62% through 2029. The Saudi Arabia’s eCommerce market is valued at $8.7 billion, making it the largest in the GCC.