Aug 27, 2020, 09:00 EST
Bronx, United States, Aug 27, 2020, 09:00 /Comserve / -- Babble, the cloud communications, contact center, and cyber solution platform has announced that it has acquired Corporate Management Telecom ltd (CMT).
August 26, 2020: Babble, the cloud communications, contact center, and cyber solution platform has announced that it has acquired Corporate Management Telecom ltd (CMT). Private equity investor LDC funded the deal, and this is the third acquisition by the company this year.
CMT is a Braintree based company established in 1998. The business provides corporate telephony and cloud-based services which include voice, system hardware, IT, and mobile to its large customer base ranging up to 500.
The partnership between Babble and LDC began in 2017. Since then their combination has delivered double-digit organic and acquisitive growth such as the acquisition of Arden Group, Direct Response Plus, Diva Telecom and Lake Technologies.
Matt Parker, the Chief Executive Officer of Babble, shared his experience about this thrilling and defining time for Babble. He added that the company is chasing the target of EUR 100 million revenue, and with each significant acquisition, it is moving a step closer towards its goal.
As per the news released by LDC, Pascoal De Oliveira, Sales Director at CMT expressed how pleased the company is to be a part of Babble and added that the company looks forward to an optimistic future.
This acquisition also adds to the count of LDC as, since July 2018, its businesses in the UK have acquired 45 plus firms with an enterprise value of more than EUR 275 million. In August, two of LDC backed companies, apart from Babble, have made significant acquisitions. On August 13, Onecom, the UK’s biggest independent business telecommunications provider, has acquired the Glamorgan Telecom Group. While, at the beginning of August, ENSEK stretched its position into Europe with the acquisition of NrgFin. LDC’s support to companies all over the UK has been fruitful for them and has definitely led to the expansion of the LDC business.
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