' For complete examples and data files, please go to https://github.com/groupdocs-watermark/GroupDocs.Watermark-for-.NET
Using doc As CellsDocument = Document.Load(Of CellsDocument)("D:\test.xlsx")
' Initialize image or text watermark
Dim watermark As New TextWatermark("Protected image", New Font("Arial", 8))
watermark.HorizontalAlignment = HorizontalAlignment.Center
watermark.VerticalAlignment = VerticalAlignment.Center
watermark.RotateAngle = 45
watermark.SizingType = SizingType.ScaleToParentDimensions
watermark.ScaleFactor = 1
For Each worksheet As CellsWorksheet In doc.Worksheets
For Each shape As CellsShape In worksheet.Shapes
If shape.Image IsNot Nothing Then
' Add watermark to the image
shape.Image.AddWatermark(watermark)
End If
Next
Next
doc.Save()
End Using