A Lancashire-based cloud contact centres business, which works with the likes of Sainsbury's, First and PrettyLittleThing, has been acquired in a deal which could be worth up to £46m.
Gamma Communications, a listed technology-based provider of communications services to the business markets in the UK and mainland Europe, has acquired the entire issued share capital of Mission Labs in Rawtenstall.
The deal by Gamma, which has a base in Manchester, comes after its acquisition of Telsis in November 2019 which resulted in the launch of the fully integrated Horizon Contact Centre on March 2, 2021.
Gamma has partnered with Mission Labs over the last 18 months on various projects such as PhoneLine+ which is a replacement product for single line customers.
Andrew Taylor, Gamma’s chief executive, said: "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 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."
The initial consideration for Mission Labs is £40.2m on a cash free basis with up to an extra £6m payable over the next three years if certain development milestones are met.
For the year ended 31 March 2020, Mission Labs had unaudited revenues of £3.4m while its operating profits (adjusted EBITDA) for the period were £400,000.
Damian Hanson, co-founder of Mission Labs, added: "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.
"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 a similar ethos and forward thinking vision."
Established in 2016, Mission Labs employs more than 90 people and is led by the co-founders Damian Hanson and David Hague.
