Smartphoto group acquires System Insight Holdings

Smartphoto group, the Belgian e-commerce group and personalized photography products and gifts company, announced the acquisition of System Insight Holdings, a well-established U.K. company specializing in event and souvenir photography under the commercial name Image Insight. With this acquisition, smartphoto adds a valuable new component to its growing B2B division, strengthening our commitment to capturing and preserving life’s most memorable experiences, the company said.

Smartphoto 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. 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 acquired company will join Smartphotos B2B, alongside TopFanZ, a previously acquired company specializing in fan merchandise in the sports and entertainment sector. The acquisition aligns with the core vision of offering customers unique ways to commemorate special moments, according to Smartphoto. Event and attraction photography is a growing market worldwide, driven by the increasing popularity of experience-based leisure activities.. 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 expanding a new B2B segment, which is complementary to our current smartphoto and naYan segments,” said Stef De Corte, CEO smartphoto group. “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.”

‘We are very proud to join one of Europe’s largest and leading personalized photo products companies,” says Stuart Morley, CEO, Image Insight. “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.’

Smartphoto group operates in B2C e-commerce under the name smartphoto in 12 European countries with affordable, high-quality personalized products such as gifts, cards, photo books, photo calendars, prints and wall decoration. Additionally, smartphoto group’s naYan subsidiary is one of the market leaders in e-commerce distribution.