LDC-backed Babble acquires business telecoms provider Lake Technologies
Cloud services technology firm Babble has acquired business telecoms provider Lake Technologies. The transaction, which was funded by mid-market private equity investor LDC, marks the fourth deal completed by the rapidly growing business, after it was backed by the private equity firm in 2017.
Lake Technologies has provided business telephony and network services to its customers for over 26 years, who will now be able to take advantage of Babble’s ability to offer the most agile and efficient cloud-based solutions to organisations, allowing them to adapt to the changing world of work.
Babble has thrived since it was private equity backed three years ago. It has continually delivered strong organic growth and remains on track to hit a revenue target of GBP100 million through a combination of organic growth and an aggressive buy and build strategy.
Matt Parker, CEO at Babble, says: “This is another step on Babble’s rapidly accelerating ride towards GBP100 million 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, says: “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.”
Since the MBO in 2017, Babble has also acquired Arden Group, Direct Response Plus, and Diva Telecom through funding provided by LDC.