Seven staff, including founding directors Lawrie Cook and Mike Spain, have joined the Islington-based pre-press firm.
Its client base is outside the magazine sector where Colour Systems currently operates, said chief executive Les Pipe.
SMACs main clients were in the corporate sector, including financial institutions and catalogues.
Colour Systems was rumoured to be in discussion with SMAC and Birmingham-based packaging firm Red 485 (PrintWeek, 10 July).
Pipe said that there would be no deal with Red 485, but the firm is still pursuing acquisitions.
We are looking at all the sectors that we dont operate in, he said. Packaging is one that I have experience of as founder of Kestrel and group managing director of Graphic Facilities.
Pipe declined to talk about the clients it had acquired from SMAC or how much turnover the acquisition was expected to add.
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"This is a repeat of what happened to 1066 Capital t/a Crystal a year ago. They also never put this company in administration.
We are all still left unable to claim the redundancy and notice pay owed..."
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