Mon, 29 Mar 2021 | BUSINESS SALE
Comms and cyber services provider Babble has acquired IT firm 81G Blue, its seventh acquisition since the start of 2020 and third since it was backed by private equity firm Graphite Capital. 81G Blue is based in Warwickshire and is a fully managed service IT solutions provider.
The acquisition will enhance Babble’s cyber capabilities and follows its takeover of Newcastle-based managed services provider (MSP) Activ Technology in February. The deals form part of Babble’s buy and build strategy, which has been accompanied by solid organic growth over the past year, with Graphite backing the company in November 2020.
At the time, Graphite said it would support Babble’s efforts to grow organically through winning new clients and cross-selling to its customer base, whilst also driving an acquisition strategy targeting smaller providers with a structured integration approach.
Following the acquisition of 81G Blue, Babble Chief Executive Matt Parker said: “The talented team at 81G Blue shares our ambition to enhance customers’ agility, efficiency and profitability and we’ve no doubt they’ll add significant value as we continue to strengthen our cyber business unit.”
“Our buy and build strategy has continued at pace in 2021. We have more acquisitions in the pipeline, as we seek high quality, innovative businesses that have the potential for further growth.”
Babble's acquisitive growth strategy has seen the company expand to locations in London, Newcastle and Burton, while it provides cloud solutions over 3,000 clients across a wide array of sectors.
Its most recent accounts, to the year ending November 30 2019, show the company generating annual revenue of £12.6 million (up from £7.7 million a year earlier) and pre-tax profits of £1.46 million (£590,062 a year earlier).
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