The online gift boutique Smartphoto is putting 9.5 million euros on the table for Image Insight.
Smartphoto has acquired System Insight Holdings, a British company specializing in event and souvenir photography, for an initial price of 8 million pounds.
An additional payment may follow, depending on future results. The acquisition is funded through Smartphoto’s cash reserves.
System Insight, which reported 6 million euros in revenue last year with a strong EBITDA margin, will integrate its staff and management into the Smartphoto Group.
The deal strengthens Smartphoto’s B2B division and aligns with its strategy of acquiring sustainable, high-growth companies with synergies for its customers.
