Babylon Software Overview
Babylon Software provides translation and language-learning solutions for individuals and corporations. The company's desktop tool is available as a free download and provides translations in more than 77 languages. Babylon's translator uses optical character recognition (OCR), which enables the system to identify both the term to be translated as well as the text surrounding it. Working both online and offline with just a click of a mouse, Babylon delivers instant results without the need to change applications. The company's language solutions include professional translation of official documents, mobile apps, instant grammar correction to assist users with their writing, and language-learning programs for kids and adults.
Latest News
growth-positive
Noam Lanir sells Babylon controlling stake
Tamim Alpha Fund is increasing its stake in Babylon Ltd. from 14% to 30%. The fund will buy 23% of Babylons shares from the controlling shareholder Noam Lanir and 3% from CEO Shanit Peer Tsfoni. Tamim Alpha Fund will pay NIS 33 million at NIS 2.50 per share. Babylons share price is rising as a result of the agreement. Babylon, originally a software translation company, experienced growth in Internet marketing and advertising. The companys market cap began to fall after Google ended its collaboration in 2013.
Acquisition
growth-negative
Ovadia to pay $2m for Babylon translation unit
An arbitrator ruled that entrepreneur Amnon Ovadia must pay Babylon $2 million to acquire the companys translation business. The ruling came after Ovadia demanded the cancellation of the agreement he signed with Babylon in 2014. Babylon argued that Ovadia had received all the necessary information during negotiations and that he signed the agreement with knowledge of the companys declining revenue. Babylons business has shifted to online marketing and advertising, but it has experienced a decline in revenue due to the termination of its cooperation with Google and changes in its business with Yahoo!. The company is seeking digital media investors.
Acquisition
growth-negative
Babylon sells translation activity
Babylon Ltd. is selling its traditional translation and organizational data retrieval activity to Babylon Software, a private company founded by Babylons founder Amnon Ovadia and his wife. The sale price is $2.5 million, which will be given to Babylon in three stages. Babylon will also grant Ovadias company an eight-year license to use the Babylon brand name. Following the sale, Babylon will focus on its advertising activity based on online searches. The companys revenue from the sold activity accounted for 12% of its total revenue in the first half of 2014. Babylons net profit has decreased compared to the previous year. Babylon trades at a market cap of NIS 133 million and has announced the distribution of a NIS 125 million dividend to its shareholders.
Acquisition
growth-positive
Yahoo signs four-year deal with translation software provider Babylon
Babylon has signed a four-year cooperation agreement with Yahoo Inc in the Internet sector, including on mobile devices. The agreement will involve revenue sharing from Internet advertising. Babylon expects strong revenue growth this year due to increased advertising income. The company has also filed for an IPO on Nasdaq, aiming to raise up to $115 million.
PartnersPublic Trading
growth-negative
Israeli company Babylon considers going private
Babylon, the online translation company, is considering canceling its plans to become dual-listed on the New York and Tel Aviv stock exchanges. Controlling shareholder Noam Lanir is weighing a suggestion from another top shareholder, Reed Elsevier Ventures, to buy the shares currently trading on the Tel Aviv Stock Exchange and delist the company. This could result in the cancellation of Babylons imminent public offering on NASDAQ. The companys share price has fallen by about a third in the last three months. Despite recent positive announcements, including an agreement with Google and better-than-expected financial results, the Israeli market has responded poorly to Babylons stock. The dispute between Lanir and Babylons management over the IPO is ongoing.
Public Trading
| Sector | Education & Knowledge Technologies |
Funding
| Total funding | Undisclosed |
| Last funding | Undisclosed |
| Stage | Mature |
| Rounds | 0 |
| Investors | 0 |
Team Members
3
Employees: 1-10
Web & Social Links
| Website | www.babylon-software.com/ |
Locations
Tchernikhovski St 35, Haifa, Israel
Photos & Videos
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