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
3 item(s)
Babylon Software Business
Business models
B2C, B2B
Product stage
Released
Employees
1-10
Sector
Education & Knowledge TechnologiesLearning/Self Learning ApplicationsTarget Customer
ConsumersEnterprise & Professional ServicesSMBs & SMEsTranslation & Linguistic ServicesCore Technology
Platforms & InterfacesSoftwareWebTags (5)
languageknowledge-technologymobile-applicationsweb-platformconsumersGeographic Markets
GlobalBabylon Software Financials
Undisclosed
Total funding
—
Capital raised
Undisclosed
Last funding
Mature
Funding stage
0
Total rounds
0
Investors
Mergers & Acquisitions
MNAEvent
Jun 2013
$8M
Babylon Software Lifecycle
All Events
MNAEvent
Jun 2013
$8M
Babylon Software News
9 articles
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
growth-negative
Babylon sellers want back in
Noam Lanir, the controlling shareholder of Babylon Ltd., gave sellers an option to buy back their shares at double the price. Some sellers are now considering exercising this option. Kardan Technologies, a shareholder of Babylon, is considering exercising its option. Lanir has no interest in being a minority shareholder if Kardan Technologies exercises its option and may consider selling his entire stake. Reed Elsevier, another shareholder of Babylon, is displeased with the actions of David Assia, who is representing Kardan Technologies, and is reviewing its relationship with him. The share price of Babylon fell 1.2% in early trading.
Partners
growth-positive
Babylon institutional offering raises NIS 23m
Babylon Ltd. plans to hold an IPO on the Tel Aviv Stock Exchange to raise NIS 32 million, with an additional NIS 64 million from future options. The company has already raised NIS 23 million in the institutional tender and aims to raise another NIS 9 million in the public tender. The underwriters for the IPO are Discount Underwiting & Issuing Ltd., Excellence Nessuah Underwriting (1993) Ltd., and Migdal Capital Markets Ltd. After the IPO, Reed Elsevier Ventures will own 15.5% of the company, Formula Vision Technologies Ltd. will own 14%, and Monitin Publishers will own 11%. The CEO of Babylon Ltd. is Dov Peer, and the company has 75 employees.
Public Trading
growth-positive
Babylon mulls TASE IPO
Translation software developer Babylon is considering a TASE IPO and may raise $10 million at a company value of $40 million. The company met with investment bankers to examine the feasibility of raising funds on capital markets. Babylon is owned by Formula Vision, Reed Elsevier Publishers, Monitin Publishers, RAD Data Communications chairman Zohar Zisapel, and additional shareholders. The company employs 75 people and has developed a leading translation program.
Public TradingInvestment
growth-positive
Babylon meets banks on possible $20m Nasdaq IPO
Babylon, a company that offers translation software, currency and measurement conversion, and access to knowledge bases, is considering a public financing round. The company has met with six investment houses to discuss the possibility of raising funds on Nasdaq. US banks have offered to raise $20 million, while Israeli banks have mentioned a sum of $6-$10 million to be raised on the Tel Aviv Stock Exchange. Babylon has estimated annual revenue of $10 million and has so far raised $16 million. The companys principal shareholders include Reed Elsevier Ventures, Formula Vision Technologies, The Monitin Group, and company founder Amnon Ovadia. Babylon is still in the preliminary stages of considering the float and no immediate plans have been made.
Public Trading
Babylon Software Team
Employee Info
| Employees (range) | 1-10 |
| Exact count | 4 |
| Team members | 3 |
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Babylon Software Internal
Recent Updates
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Admin Info
| Confidence | 89/100 |
| Missing | funding rounds, markets, not claimed |
| Registrar ID | 515134138 |
| Crunchbase | babylon |
| Phone | +97248335230 |
| Creator | Jenny Sotnik-Talisman |
| Creator email | genys30@yahoo.com |
| Last updater | Matan Eblagon |
| Updater email | matane@sncentral.org |
| Last update | 2023-05-07T00:00:00.000Z |
| Created | 2014-08-10T00:00:00.000Z |
| Hidden | Owner asked to hide in the meantime (visible: 0) |