£40m+ deal as Mission Labs snapped up by listed group
Posted on March 3, 2021 by Jonathan Symcox
Cloud contact centre start-up Mission Labs has been acquired by listed communications software group Gamma in a potential £46 million deal.
Based near Rawtenstall in Lancashire and launched in 2016, Mission Labs has developed products including CircleLoop, a cloud-based telephony product which 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 the business and continue to lead its 90-strong team.
Gamma said the acquisition, for an initial consideration of £40.2m with an additional £6m contingent on certain development milestones over the next three years, gives it additional capabilities in the rapidly evolving markets of cloud contact centre and cloud communications.
The UK-headquartered group serves the UK, Dutch, Spanish and German business markets, supplying communication solutions directly and via an extensive network of channel partners.
For the year ended 31st March 2020, Mission Labs generated revenues of £3.4m and operating profit of £400,000.
“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.”
The acquisition sits alongside Gamma’s acquisition of Telsis in November 2019, which resulted in the launch of the fully integrated Horizon Contact Centre on 2 March 2021.
Horizon Contact Centre is a CCaaS product aimed at the SME market. Gamma is now able to provide solutions for the entire business market in the UK and Europe, ranging from small to large enterprise customers.
Andrew Taylor, Gamma CEO, commented: “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.”
Law firm Bermans, led by partner Stephen Jarman and assisted by colleagues Simon Nolan, Andrew Koffman, Stephen Chalcraft and Rob Maddocks, advised Mission Labs on the deal.