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Babble today announces the double acquisition of Tewkesbury-based Midland Comms and a carve-out of the IT Managed Service Provider (MSP) business of Fife-headquartered Cloudstream Technology Limited.
Babble has made five acquisitions in the first quarter of 20231, as the company continues to establish itself as a leading UK Cloud Service Provider (CSP) with scale in both Comms and IT. The two new acquisitions collectively add £4.5m of revenues, 90%+ of which is recurring, taking Babble’s overall revenue run rate past £100m per year.
Babble now has more than 18,000 customers, primarily in the mid-market space, with a sizable and growing base of enterprise customers.
Midland Comms has served SMEs across the Midlands for nearly 50 years, providing more than 500 customers with communications solutions. Cloudstream’s MSP business has more than 350 customers across Scotland, the North of England and Northern Ireland. The two acquisitions will see more than 30 new employees join Babble.
Both acquisitions complement Babble’s overall Cloud Service Provider offering, which is underpinned by two business divisions: Talk, which brings people, businesses, and places together, through mobile, UC and contact centre solutions and Tech, which powers and protects UK business with a robust suite of security solutions, IT support (MSP), and Microsoft offerings.
Matt Parker, Babble CEO, says: “These two strategic acquisitions significantly strengthen our position as the only UK Cloud Service Provider of both Comms and IT solutions at scale. They bring high-quality retained customers and fantastic, 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.”
