Babble completes Lake Technologies acquisition

Published by Scott Challinor on July 13th 2020, 6:00am

Cloud technology firm Babble has finalised its acquisition of Lake Technologies Ltd in its second such deal of the year.

Lake Technologies specialises in business telephony and network services and has been active in its market for nearly 30 years, with Babble’s cloud-based solutions now able to add a new dimension to its services as the company looks to innovate.

The Lake Technologies deal is the fourth acquisition the company has made since receiving the backing of private equity firm LDC back in 2017, alongside Arden Group, Direct Response Plus and Diva Telecom.

Since receiving private equity support, Babble has yielded significant growth, reaching an annual turnover of £22 million and is on track to hit a revenue target of £100 million.

Following the completion of the deal, Babble CEO, Matthew Parker, said: “This is another step on Babble’s rapidly accelerating ride towards £100 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.”

LDC’s investment director, Chris Morris, said: “Matthew 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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Authored By

Scott Challinor
Business Editor
July 13th 2020, 6:00am

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