Unified comms VAR Babble says it is on track to hit £100m revenues after making its fourth acquisition under private equity backer LDC.
London-based Babble has gobbled up Lake Technologies, a Lancashire-based business telephony and network services provider.
It marks Babble's second acquisition this year and fourth since it underwent an LDC-backed MBO in 2017.
Specialising in unified comms, contact centre and security solutions, Babble claims 95 per cent of its £22m revenues in its latest year were recurring. It boasts over 10,000 cloud-based users, 10,000 mobile connections and 2,000 CCaaS seats.
Matt Parker, CEO at Babble, said: "This is another step on Babble's rapidly accelerating ride towards £100m as we seek further acquisitions in partnership with LDC. I am delighted to have acquired another high-quality business in Lake Technologies. Both businesses have a focus on improving productivity and increasing customer engagement and organisational resilience whilst reducing costs, to deliver a rapid return on investment for clients."
Chris Morris, investment director at LDC, said: "Matt and the team at Babble are committed to delivering an ambitious acquisitive growth strategy which we are fully supportive of. We have provided additional funding to help the team secure this deal and further broaden its services as it continues to grow."
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