Cloud technology firm Babble has acquired听Lake Technologies.听听
The move marks the fourth deal completed by the acquisitive business since it was backed by private equity firm LDC in 2017.听
Babble has continually delivered strong organic growth and remains on track to hit a revenue target of 拢100m through a combination of organic growth and an aggressive buy and build strategy.听
Ormskirk-based Lake Technologies has provided business telephony and network services to its customers for over 26 years and has cloud-based products.听
Matt Parker, CEO at Babble, said: 鈥淭his is another step on Babble鈥檚 rapidly accelerating ride towards 拢100m as we seek further acquisitions in partnership with LDC. I am delighted to have acquired another high-quality business in Lake Technologies.听听
鈥淏oth 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.鈥�听
Chris Morris, Investment Director at LDC, said: 鈥淢att and the team at Babble are committed to delivering an ambitious acquisitive growth strategy which we are fully supportive of.听听
鈥淲e have provided additional funding to help the team secure this deal and further broaden its services as it continues to grow.鈥�听
Since the MBO in 2017, Babble has also acquired Arden Group, Direct Response Plus, and Diva Telecom through funding provided by LDC.听