Connect with us

Hi, what are you looking for?

Jewish Business News


Babylon to invest NIS 4.6 million ($1.27 million) in Somoto

The companies also signed a three-year commercial agreement.


Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

/ By Koby Yeshayahou / 

Babylon will invest NIS 4.6 million ($1.27 million)  in cash in Somoto for a 4.1% stake in the company. The companies also signed a three-year commercial agreement, under which Somoto will offer its users Babylon products in at least half of its installations, on the basis of a price mechanism set out in the agreement.

Somoto is registered in the British Virgin Islands. Two weeks ago, it filed a draft prospectus for an IPO on the Tel Aviv Stock Exchange (TASE). The company provides software monetization tools via a smart installation system.

Babylon said, “At this stage, the company cannot estimate the effect of the commercial agreement on its financial results.”
Six weeks ago, Babylon announced the acquisition of 100% of start-up Woolik Ltd. for NIS 8 million in cash and shares. Woolik develops online search solutions that personalize the user’s browser, adding value to search page users, and enhancing the user experience.
Published by



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.