Devsinc, one of Pakistan’s leading IT companies, today announced the acquisition of Alchemative Group, a UAE-based provider of e-commerce and digital retail solutions and the creator of the UnumPay payment gateway. This acquisition marks Devsinc’s expansion into key Middle Eastern markets, beginning with the UAE, a $7 billion market, according to Statista research.
Alchemative, headquartered in Dubai, UAE, has more than 11 years of experience and serves over 800 global clients across more than 15 countries. The company drives innovation in e-commerce through omnichannel retail, Shopify apps, ERP integrations, and logistics optimisation. It processes over 20 million orders monthly, empowering businesses with scalable SaaS models.
With the acquisition of Alchemative in the UAE, Devsinc plans to enter the digital retail and e-commerce markets. The company boasts a seamless track record of completing 3,000 projects in over 23 countries. The new acquisition strengthens Devsinc’s ability to provide services to its existing customers in North America as well.
Usman Asif, CEO of Devsinc, said: “Alchemative’s expertise in digital retail and e-commerce aligns 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 specialises in delivering enterprise-grade services across 23 IT and IT-enabled solutions, spanning 10 industries and four 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 allows 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 that holds a remarkable 24 per cent market share with a client base of 1,200 businesses in Pakistan. The addition of UnumPay enhances Devsinc’s fintech capabilities and positions the company to address digital payment needs in markets such as the UAE.
Devsinc’s Roadmap for the UAE
Enterprise Partnerships: Delivering tailored solutions for e-commerce platforms like Salesforce and Shopify.
Technology Innovation: Offering cloud-based and AI-driven solutions to optimise operational efficiency.
Scaling UnumPay: Localising payment solutions to meet the demands of the UAE’s e-commerce sector.
Digital Transformation: Aligning with government-led initiatives for smart cities and digital-first economies.
Retail and E-commerce Market Size in the UAE and KSA
The retail and e-commerce markets in the UAE and Saudi Arabia are experiencing significant growth. According to Statista, the UAE’s e-commerce market is projected to reach $6.98 billion in 2024, with a CAGR of 8.62 per cent through 2029. Saudi Arabia’s e-commerce market, valued at USD 8.7 billion, is the largest in the GCC.