Connection Group ventures further into photographic arena

Date: 06 October 2004
(ICT World)
Staff Reporter
The Connection Group yesterday announced that it has acquired Beyond IT, a specialist retailer of photographic products and photo-finishing services, for R30,2m.

The acquisition is in line with the Connection Groups move into the photographic arena, the company says, and fits in well with its new digital imaging brand 'Photo Connection.

Beyond IT consists of 12 branches operating in the greater Johannesburg area.

These will be rebranded as Photo Connection outlets, and increase the number of photographic outlets owned by the group to 29.

Beyond ITs owners, Alan Reeves, Mark Reeves and Anthony Delport, have agreed to join the group, and will assume operational responsibility for all 29 outlets.

The three have signed three-year employment contracts and restraint of trade agreements.

The acquisition is effective as of 1 September, although the parties are awaiting approval from the Competition Commission.

The digital revolution has changed the way information and images are handled. The photographic industry has rapidly evolved into an industry driven by the adoption of computers. This has resulted in many more pictures being captured and processed than at any other time in photographic history. Connection Group is ideally positioned to take advantage of this opportunity, the company said in its SENS announcement.