Deals
Babylon Gains as Purchases Seen Spurring Growth: Tel Aviv Mover
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Babylon Ltd. gained on optimism that acquisitions will help fuel the translation software maker’s growth as the company announced an investment and distribution pact with Somoto Inc.
Shares of the Or Yehuda, Israel-based company, which gets most of its revenue from advertising agreements with Google Inc., advanced 1.6 percent to 22.86 shekels at the close in Tel Aviv. Babylon’s stock has rebounded 24 percent from its yearly low on March 28, when it declined on investor concerns changes to its partnership agreement with Google were slowing sales. The benchmark TA-25 Index was little changed.