LONDON: The Smarter Web Company (LSE: SWC) on 20 February 2026 acquired Squarebird Agency Ltd, a profitable Bristol-based web design and digital marketing agency, for a total net consideration of £1,690,000.
The consideration will be satisfied through a combination of newly issued equity and cash, comprising £675,000 to be paid through the issue of 1,682,033 new ordinary shares in The Smarter Web Company at an issue price of 40.13p (subject to customary lock-up provisions, as further detailed below) (the “Consideration Shares”), £270,000 in cash funded from the Company’s existing cash reserves, and £340,000 to be funded from Squarebird’s existing cash reserves. The balancing cash consideration of £405,000 will be paid over in three equal instalments on the first, second, and third anniversaries from the date of completion.
The Acquisition is intended to strengthen the Company’s core web design business, enhance the group’s overall financial position, and forms part of the 10 Year Plan (“10 Year Plan”) announced via regulatory news at 07:00 on 28 April 2025 and available on the Company’s website.
Squarebird was selected following a targeted review of potential acquisition candidates, based on its consistent profitability, experienced management team and strong client relationships. The acquisition of Squarebird follows a disciplined process aligned with the Company’s previously announced acquisition strategy contained within the 10 Year Plan.
Squarebird is a profitable, cash-generative business with strong margins and recurring revenue, meeting the Company’s criteria for acquiring operating companies with attractive economics and an approximate 3-to-4-year payback profile. The Acquisition enhances the Company’s operating platform, increasing scale and capability across the Company while also increasing recurring revenue and operating cash flow. Importantly, the additional profits are expected to support the Company overheads, enhancing financial resilience across market cycles. The consideration structure, combining equity and cash, aligns the Squarebird founders with the Company’s shareholders.
The Board believes this selective, value-driven acquisition strengthens core operations and financial sustainability.
Squarebird is a well-established and consistently profitable web design and digital marketing agency founded in 2015. Squarebird has over 20 full-time staff and in its last financial year to 30 April 2025 recorded a turnover of approximately £1.40m, generating a gross profit of approximately £1.28m. Squarebird has a strong client base, with approximately 40% of revenue recurring over the last 5 years.
Squarebird offers services that are highly complementary to the Company’s existing offering, expanding both technical capability, marketing reach and delivery capacity across the Group.
In the short term, Squarebird will be managed as a separate business, with both founders of Squarebird remaining to lead this business forward committing to a minimum of 3 years of employment following the Acquisition. While Squarebird will initially operate independently, both Squarebird and the Company are Bristol-based, with commercial synergies expected to be realised over the medium to longer term.
Squarebird was founded in 2015 and has traded continuously since that time. Squarebird Agency Ltd was incorporated in 2024 following the transfer of the trade and operations previously carried on by Squarebird LLP (established 2017), as part of the founders’ broader commercial and strategic development of the business.
Andrew Webley, CEO of The Smarter Web Company, commented:
“2025 marked a transformational year for The Smarter Web Company as we became a public company. Our focus in 2026 is to build on this foundation, and I am delighted to announce the acquisition of Squarebird, a profitable and well-established digital agency with a strong reputation and proven delivery capability. This selective acquisition strengthens our core business, improves recurring revenue and cash flow, and enhances our overall financial position. In turn, it increases our resilience across market cycles, supporting disciplined execution of our Bitcoin treasury strategy and represents an important milestone in executing our 10 Year Plan.”
Jon Bird, Managing Director of Squarebird, commented:
“This represents an important milestone for Squarebird as we join The Smarter Web Company. We have built a profitable digital agency with strong client relationships and a proven operating model. Becoming part of a listed group provides an opportunity to support Squarebird’s long-term growth ambitions within a broader strategic framework. We look forward to working with Andrew and The Smarter Web Company team to continue developing the business, strengthening our market position and creating long-term value for shareholders.”