Lancashire's Mission Labs sold to software group Gamma for £46m
Lancashire-based cloud contact centre start-up Mission Labs has been acquired by listed communications software group Gamma in a deal that could potentially be worth £46 million.
The company, based near Rawtenstall, launched in 2016 and its flagship product is CircleLoop, cloud-based telephony that is fully serviced through web, desktop and mobile applications and aimed at the micro-business market.
Co-founders Damian Hanson and David Hague will remain with Mission Labs and continue to lead its 90-strong team.
The acquisition is for an initial £40.2m, with £6m contingent on certain milestones being reached over the next three years. Gamma said the addition of Mission Labs would give it extra capabilities in the rapidly evolving markets of cloud contact centre and cloud communications.
UK-headquartered Gamma serves the UK, Dutch, Spanish and German business markets, supplying communication solutions both directly and via a network of channel partners.
“We are delighted to become part of the Gamma family and we see this as the next step in the development and continued growth of our business,” said Hanson.
“We believe that we can combine our products, development and commercial teams with those of Gamma to drive the strategy of the business we have built to the next level. It is great to have found a partner with similar ethos and forward-thinking vision.”
Gamma CEO Andrew Taylor added: “The acquisition of Mission Labs is important to Gamma, and provides us with an opportunity to both reinforce and accelerate our UCaaS, CCaaS and Digital technology and product capabilities across the group.
“This will enable Gamma to realise both current and future growth opportunities and ensure that we continue to successfully execute against both our immediate and long-term commitments.
“On a personal level, and on behalf of everyone at Gamma, we warmly welcome all of Mission Labs’ staff and customers into the Gamma family and we look forward to working with them.”
Mission Labs generated revenues of £3.4m and operating profit of £400,000 for y/e 31st March 2020.