Lake Technologies bought by Babble

Ormskirk-based Lake Technologies has been acquired by rapidly-growing cloud technology firm Babble. 

Lake Technologies has provided business telephony and network services to its customers for more than a quarter of a century, and will now be able to take offer customers Babble agile and efficient cloud-based solutions.

Since it was backed by private equity firm LDC in 2017, Babble has grown revenue rapidly to an annual turnover of £22m, 95% of which is recurring, and is on track to deliver on a revenue target of £100m.

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.”

Since the MBO in 2017, Babble has also acquired Arden Group, Direct Response Plus, and Diva Telecom through funding provided by LDC.

  • For further Lancashire business news, advice and analysis subscribe to Lancashire Business View or join the LBV Hub from just £2.50 per month. Click here to subscribe now.