After being acquired by the global private equity firm Investcorp, Wayne-based Unilog – which makes e-commerce software for business-to-business transactions – is planning to double its local staff and ramp up its M&A activity, writes Michelle Caffrey for the Philadelphia Business Journal.
The financial terms of the deal were not disclosed.
According to Unilog CEO Suchit Bachalli, the deal has been in the works for the last six months. It was completely hashed out during virtual calls via Zoom and Microsoft Teams. During one call, Bachalli gave a tour of the company’s office in Wayne by taking his laptop for a walk through the space.
“It was very interesting for sure,” he said. “Only now when the dust has settled, I look back, and I’m like ‘Wow, we pulled off a pretty massive deal in the middle of a pandemic.’”
Unilog launched its software product eight years ago. Other than a small funding round in 2015 led by India-based Kalaari Capital, the company has been owned primarily by Bachalli and his father, Achutha Bachalli.
The company currently has 800 employees globally, with 50 of them in Wayne.
Read more about Unilog in the Philadelphia Business Journal here.
