Canon Europe has today announced it has acquired the UK photo-sharing service 'Fotango'. Fotango was founded in London in 1999 by a team of just five. Fotango make both traditional film photographs available as online albums as well as digital images. Alexis de Belloy, CEO of Fotango said: "The Canon deal provides both parties a strong foothold in the exploding digital imaging marketplace. Canon is a multi-national organisation that offers unrivalled expertise in digital imaging capture, while Fotango provides the means to manipulate and distribute pictures worldwide."

Press release:

CANON EUROPE SNAPS UP ONLINE PHOTO SPECIALIST FOTANGO

London, 10 September 2001: Canon Europe, world-leader in image solutions for networks, today moved forward its development strategy for e-business in announcing the acquisition of the privately-held Fotango - Europe's premier online photo-sharing service.

An 'online photo-album', Fotango is a highly acclaimed and rapidly expanding company which allows both digital and standard camera users to conveniently view, share and print photos across the world, using the Internet.

This acquisition underlines Canon's commitment to the online photo digitisation industry in Europe, which - according to Lyra Research - is expected to total about $3.4 billion by 2004.

Hajime Tsuruoka, CEO of Canon Europe, said: "As a market leader in creating image solutions for a networked society and a committed member of the European business community, it is a natural progression for Canon Europe to seek out leading-edge partnerships. This acquisition will enable the further integration of specialist technologies into the Canon portfolio. With Fotango's grounding as an application service provider (ASP), it will also form the basis on which Canon Europe can build its future e-business development. This strategy will allow Canon Europe to explore the commercial opportunities provided in the ASP market sector as it moves to offer further e-business solutions to its current and future customers.

Canon is moving towards a new European structure built on its existing philosophy of market-led innovation. This deal represents the first of a new breed of acquisition for the company.

Alexis de Belloy, CEO of Fotango said: "The Canon deal provides both parties a strong foothold in the exploding digital imaging marketplace. Canon is a multi-national organisation that offers unrivalled expertise in digital imaging capture, while Fotango provides the means to manipulate and distribute pictures worldwide."

Founded in London in 1999, by a team of five, Fotango has rapidly built up a large customer base throughout Europe and an unparalleled offering in the online photo space.

The company has revolutionised the traditional film development process for all camera users. Customers can share their online photos with friends and family, organise them in digital albums and order high-quality prints, reprints or photo gifts. Standard camera film is sent in a pre-paid envelope to Fotango and email notification is issued when processing has been completed and images are available for viewing on the website. For digital camera owners, image data is uploaded to the site for global availability, while quality photographic prints are sent directly to the customer's home.