Lake Technologies acquisition by Babble. LT, headquartered in Ormskirk, has recently been acquired by the prolific acquirer Babble. Lake Technologies is renowned for providing comprehensive business telephony and network services, catering to clients both locally and nationally.
Babble, on the other hand, has experienced rapid revenue growth, boasting an impressive annual turnover of £22 million, with 95% of this revenue being recurring. The company is firmly on track to achieve its ambitious revenue target of £100 million by 2024.
Matt Parker, CEO at Babble, expressed his enthusiasm about this acquisition. He views it as another significant step in Babble’s rapid ascent towards achieving the £100 million milestone. Furthermore, the acquisition aligns with their strategy of seeking further acquisitions in collaboration with LDC. Matt Parker emphasized the value of this acquisition in expanding their portfolio with Lake Technologies, a high-quality business.
Neil Needham, the seller of Lake Technologies, shared his positive experience working with Gary. He highlighted Gary’s remarkable ability to find the perfect buyer for his business, which turned out to be Babble. Neil expressed his appreciation for Gary’s expertise, candor, and guidance, which ultimately played a crucial role in ensuring a successful transaction.
In conclusion, the acquisition of Lake Technologies by Babble represents a significant move in the companies’ growth strategies. Babble’s goal of reaching £100 million in revenue by 2024 is further bolstered by this addition to their portfolio. The success of this transaction is a testament to the power of expert guidance and the ability to match the right buyer with the right business. Gary’s role in this process highlights the value of such expertise in facilitating successful business transactions.