Babylon forgoes IPO in US

Israeli translation software provider decides to focus efforts on potential merger with software distribution firm ironSource

Israeli translation software provider Babylon has opted out of a public offering in the United States, saying it is instead focusing efforts on a potential merger with software distribution firm ironSource.


Babylon said on Sunday it told the US Securities and Exchange Commission it was withdrawing a draft prospectus it had submitted in November 2012. It had filed for an initial public offering for up to $115 million.


"This follows company announcements that it is currently investing efforts in holding negotiations for a merger with ironSource,"

Babylon said in a statement to the Tel Aviv Stock Exchange, where it is already listed.


IronSource is an online and mobile software distributor.


In April Babylon signed a four-year cooperation agreement with Yahoo Inc in the Internet sector, including on mobile devices. In 2012 Google was the main source of revenue for Babylon.



פרסום ראשון: 09.23.13, 11:03
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