Devsinc, a major Pakistani IT company with a significant and expanding global presence in technological innovation, has announced the complete acquisition of Alchemative Group, a leading provider of e-commerce and digital retail solutions. This acquisition is a key strategic move for Devsinc, furthering its objective of providing transformative technology solutions and expanding its market reach across Pakistan, the UAE, and Saudi Arabia—a combined market valued at over $22 billion.

The decision is driven by the robust growth of the retail and e-commerce sectors in these regions. The Saudi Arabian e-commerce market was valued at $8.7 billion in 2023, the largest in the Gulf Cooperation Council (GCC). The UAE’s e-commerce sector is projected to reach $6.98 billion by 2024, with a compound annual growth rate (CAGR) of 8.62% through 2029. Pakistan’s e-commerce market is experiencing rapid expansion, with online retail sales anticipated to surpass $7 billion by 2025, fueled by an annual growth rate exceeding 18%, increasing internet penetration (reaching 36% of the population in 2023), and a young, tech-savvy population driving demand for platforms like Salesforce, Shopify, and digital payment solutions.

This acquisition offers Devsinc several key advantages: Access to Alchemative Group’s existing network will allow Devsinc to forge stronger relationships with businesses in the retail and e-commerce sectors. The acquisition integrates Alchemative Group’s expertise, broadening Devsinc’s portfolio of technology solutions. The acquisition includes UnumPay, a leading Pakistani payment platform holding a 24% market share and serving 1,200 businesses (out of a total of 5,000 businesses in Pakistan). UnumPay’s presence extends to over a dozen countries, significantly bolstering Devsinc’s fintech capabilities and market access. Devsinc gains a stronger foothold in the digital retail and e-commerce landscape, leveraging Alchemative Group’s established presence and expertise.

“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,” Devsinc CEO Usman Asif said.

Alchemative CEO Umar Rana said, “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.”

Alchemative, with over 11 years of experience, serves 800+ global clients across 15+ countries, driving innovation in eCommerce through omnichannel retail, Shopify apps, ERP integrations, and logistics optimization.

Devsinc empowers businesses worldwide with bespoke software solutions. With over 2,000 skilled engineers, Devsinc specializes in delivering enterprise-grade services across 23 IT and IT-enabled solutions, spanning 10 industries and 4 continents.