Babylon Software

Company Overview

Snapshot

Founded in September 1997 by Amnon Ovadia, Babylon Software operates with 1–10 employees. The company has been involved in strategic shifts, including the sale of its traditional translation and organizational data retrieval activity in September 2014 to Babylon Software, a private company founded by Amnon Ovadia.

Business overview

Babylon Software specializes in providing comprehensive translation and language-learning solutions for both individual users and corporate clients. Its core offering includes a desktop tool that facilitates translations across more than 77 languages, leveraging optical character recognition (OCR) for accurate text identification. Beyond its desktop application, Babylon offers professional translation services for official documents, mobile applications, instant grammar correction tools, and language-learning programs designed for children and adults. The company operates within the Education & Knowledge Technologies sector, serving consumers, SMBs, SMEs, and translation and linguistic services markets.

Strategic signal

In December 2019, Tamim Alpha Fund significantly increased its stake in Babylon Ltd. from 14% to 30%, acquiring shares from controlling shareholder Noam Lanir and CEO Shanit Peer Tsfoni for NIS 33 million. This move signals a strategic investment in the company's future, particularly after its pivot from traditional translation software to internet marketing and advertising, and following a decline in market capitalization after Google ended its collaboration in 2013.

Company Intelligence Q&A

What was a significant ownership change for Babylon Software?

In December 2019, Tamim Alpha Fund increased its stake in Babylon Ltd. from 14% to 30% by purchasing shares from controlling shareholder Noam Lanir and CEO Shanit Peer Tsfoni for NIS 33 million.

What was the outcome of the arbitration regarding the sale of Babylon's translation unit?

In May 2018, an arbitrator ruled that entrepreneur Amnon Ovadia must pay Babylon $2 million to acquire the company's translation business, following his demand to cancel the agreement signed in 2014.

When did Babylon sell its traditional translation activity?

In September 2014, Babylon Ltd. sold its traditional translation and organizational data retrieval activity to Babylon Software, a private company founded by Amnon Ovadia, for $2.5 million. This allowed Babylon Ltd. to focus on its advertising activities.

Did Babylon have a significant partnership in the internet sector?

In April 2013, Babylon signed a four-year cooperation agreement with Yahoo Inc. in the internet sector, including mobile devices, which involved revenue sharing from internet advertising.

What was Babylon's IPO plan on the Tel Aviv Stock Exchange?

In February 2007, Babylon Ltd. planned an IPO on the Tel Aviv Stock Exchange to raise NIS 32 million, with underwriters including Discount Underwriting & Issuing Ltd. and Excellence Nessuah Underwriting (1993) Ltd.