Babble announces the successful acquisition of three companies: NTE; Talking Technology; and Unicomm which was advised by Evolution Capital; it also discloses for the first time a customer base asset purchase from Glasgow-based Simple Digital Solutions.
The newly acquired companies collectively add more than 2,100 customers and 30 colleagues to Babble.
Babble has now completed eight transactions in the first half of 2023, adding nearly 4,000 customers, following the previously announced Midland Comms, Cloudstream Technology, TechQuarters and Stonegate deals, and is planning an even busier second half of 2023.
The company continues to consolidate its position as the UK’s leading Cloud Services Provider, delivering a comprehensive range of Talk and Tech solutions. Babble’s annual revenue run rate now exceeds £100 million.
The three companies serve a range of sectors, including healthcare, legal, education, recruitment, hospitality, property and charity. NTE, a communications and IT reseller based in Sunderland, specialises in business connectivity, UCaaS, data, mobile, and network security solutions. Talking Technology, headquartered in Croydon, has been providing telecommunications services to SMEs since 1988. Unicomm, established in 2009 and based in London, offers unified communications solutions to customers across the South-East of England.
Levelling the field for UK SMEs
Babble’s CEO, Matt Parker, explains the success of the buy and build strategy, “Now more than ever, businesses are recognising the importance of technology in accelerating business productivity and profitability. Our buy and build strategy brings together best-in-class cloud solutions and expertise across the UK, strengthening our national presence and ensuring our customers receive the support they need at a local level.
“The start of this year has been busy for Babble, with eight acquisitions and investment in additional resource, capacity, capability and expertise to serve our growing customer base. We’re set to build on this success with further expansion in 2023 and remain on track for a record M&A year for Babble.”
Babble is a leading technology business that is reimagining how we do work. Founded in 2001, the company works with over 20,000 organisations in a wide range of sectors – including financial, health and education, travel and accommodation, and public services – by sourcing, deploying and supporting locally the very best cloud solutions.
Babble’s growth over the last few years is one of the big success stories in its industry. This is demonstrated by the private equity investment of Graphite Capital in November 2020 – which was supported by reinvestment from LDC and management – to accelerate the buy and build strategy for the business. Annual revenue has rapidly grown to over £100m – 90%+ of which is recurring.