Babble’s M&A spree continues with the acquisition of Midland Comms and the IT MSP business of Coldstream Technology.
The buys collectively add £4.5m of revenues, over 90 per cent of which is recurring, to Babble’s run rate which is now past £100m per year.
Midland Comms provides more than 500 customers with communications solutions and Cloudstream’s MSP business addresses over 350 customers across Scotland, the north of England and Northern Ireland. The two acquisitions will see more than 30 new employees join Babble.
Matt Parker, Babble CEO, said: “These deals bring high quality retained customers and expert people into Babble.
“This also further extends our geographical reach across the UK, bolstering our ability to offer nationwide coverage with local support to give customers the best possible levels of service.”
This marks five acquisitions for Graphite-backed Babble in the first quarter of 2023 alone. It now has more than 18,000 customers, primarily in the mid-market space.