Smarter Web Company Acquires Bristol's Squarebird Agency for £1.69 Million

The Smarter Web Company completed its acquisition of Squarebird Agency Ltd on February 20, 2026, paying £1.69 million for the Nailsea-based web design and digital marketing firm in a structured deal split across equity, cash, and deferred payments.

Squarebird, founded in 2015, brings more than 20 full-time staff into the Smarter Web group. In its last financial year ending April 30, 2025, the agency recorded a turnover of approximately £1.40 million and a gross profit of around £1.28 million. Roughly 40 percent of its revenue has been recurring over the past five years, a metric that clearly attracted the listed acquirer's attention.

The consideration structure reflects Smarter Web's preference for capital discipline. Of the £1.69 million total, £675,000 was paid through the issue of 1,682,033 new ordinary shares at 40.13p each. A further £270,000 came from Smarter Web's existing cash reserves, £340,000 was drawn from Squarebird's own cash, and the remaining £405,000 will be paid in three equal annual instalments from the completion date. The implied acquisition multiple of approximately 3x EBITDA landed within the company's stated target range of 3x to 4x.

Squarebird's founders, Jon and Nick Bird, are staying on. Both have committed to a minimum of three years of employment following the acquisition and will continue leading the agency as it initially operates as a standalone division within the Smarter Web group. The company's operating business now consists of two distinct arms: The Smarter Web Company Operations Limited and Squarebird Agency Ltd.

CEO Andrew Webley, speaking about the deal, called 2025 a transformational year for the company as it became a public entity, and described the Squarebird acquisition as building on that foundation as part of Smarter Web's 10-Year Plan. The plan outlines a selective approach to using equity for acquisitions that strengthen the company's operating base and financial sustainability.

Smarter Web, which trades on the London Stock Exchange main market under the ticker SWC as well as on the OTCQB and Frankfurt exchanges, moved its shares from the Aquis Stock Exchange Growth Market onto the LSE Main Market earlier this year. The acquisition also carries strategic relevance for Smarter Web's Bitcoin treasury approach, with the enhanced recurring revenue and improved cash flow expected to support that parallel financial strategy. Commercial synergies between the two Bristol-area businesses are anticipated to materialise over the medium to longer term.