Smartphoto group announces the acquisition of System Insight Holdings Ltd

Enhancing the B2B division with strategic synergies
This acquisition will join our B2B division alongside TopFanZ, a previously acquired company specialising in fan merchandise in the sports and entertainment sector. Together, these businesses will be instrumental in driving the division’s growth, and give the smartphoto group a further boost and a stronger in-depth market reach. This expanded division will offer clients an even broader range of personalised and event-specific products, reflecting smartphoto’s mission to innovate in personalised and memorable solutions. 

Strategic fit and growth in the visitor attraction market
The acquisition aligns with our core vision of offering customers unique ways to commemorate special moments. Event and attraction photography is a growing market worldwide, driven by the increasing popularity of experience-based leisure activities. By joining forces with a proven player in this space, smartphoto gains immediate access to new customer segments and revenue streams, creating a unique synergy with our existing product offerings. Photos remain one of the most meaningful and sustainable souvenirs, capturing people, places, and memories that are both personal and impactful.

‘This acquisition is the next step in the expansion of a new B2B segment, which is complementary to our current smartphoto and naYan segments. We are therefore delighted to welcome the team of Image Insight. This acquisition of a company that, like smartphoto, is focused on customer satisfaction and growth, will take us further to the next level as an integrated group,’ said Stef De corte, CEO smartphoto group.

Stuart Morley, CEO of Image Insight added: ‘We are very proud to join one of the largest and leading personalised photo products companies in Europe. This partnership allows us to leverage smartphoto's expertise in product range and e-commerce. We remain committed to high quality and service, and look forward to the growth made possible by this combination.’

Financial strength and value
Smartphoto group acquires 100% of the shares of System Insight Holdings Ltd, for an initial purchase price of 8 million GBP in cash. In addition to this initial purchase price, the seller is still entitled to additional consideration, of which the final price will depend on future results. The transaction was completed today. All employees, as well as the management of Image Insight, will be part of the smartphoto group. The acquisition price is financed through available cash of the smartphoto group. 

The company generated revenue of 6 million euro and significant EBITDA margin in the past financial year, underscoring its strong position in the event and souvenir photography market. 

This financial strength further supports smartphoto’s goal of expanding its B2B division with profitable, high-growth businesses that create strong synergies for the group and its customers.

About smartphoto group

Smartphoto group, the innovative e-commerce group, operates in B2C e-commerce under the name smartphotoTM in 12 European countries with affordable, high-quality personalised products such as gifts, cards, photo books, photo calendars, prints and wall decoration (www.smartphoto.be). 

Additionally, smartphoto group, through naYan which is active in B2B e-commerce, is one of the market leaders in e-commerce distribution. NaYan is a full-service e-commerce agency that, worldwide, helps ambitious brands grow online, with proven expertise in e-commerce, digital marketing, customer experience and sales through marketplaces (www.nayan.be). 

Through TopFanZ, smartphoto group is also Belgium's market leader in merchandising products and services in the sports and entertainment sector, ranging from product procurement, support in e-commerce activities and logistics, to full-service partnerships, including marketing advice (www.topfanz.com). 

Smartphoto group's shares are traded on Euronext Brussels (ISIN BE0974323553, ticker symbol SMAR).

About System Insight Holdings 

System Insight Holdings includes System Insight Ltd and Image Insight which combine decades of expertise to deliver innovative, high-quality instant photo solutions for a wide range of industries.

System Insight Ltd is a leading provider of dye-sublimation photo printers, consumables, and instant printing solutions, catering to event photographers, photo booth operators, and businesses needing fast, reliable photo printing technology. With a focus on exceptional service and cutting-edge products, System Insight ensures seamless, professional results for its customers.

Image Insight (a commercial trading name of System Insight Ltd) specialises in bespoke photo solutions for visitor attractions, events, and venues globally. Utilising industry leading technology; from advanced capturing to digital delivery platforms, Image Insight transforms moments into memorable, shareable experiences. Their comprehensive, end-to-end solutions, backed by exceptional client support, are designed to enhance visitor engagement and drive significant revenues through effortless photo integration (www.imageinsight.com).

For additional information

Stef De corte*, CEO
smartphoto group NV
Kwatrechtsteenweg 160
B- 9230 Wetteren
Tel. +32.9.365.99.10
E-mail: [email protected] - Internet: www.smartphotogroup.com

* Fixed representative of Acortis BV

This press release is a free translation of the official Dutch version.