Noam Lanir has taken Babylon Ltd. (TASE:BBYL), one of the Tel Aviv Stock Exchange (TASE) “stars” of recent years, which encountered difficulties recently, and turned it into an investment company.
Babylon announced yesterday that it will invest in digital media companies, with a focus on mobile, and any other area it considers suitable, in Israel, and around the world. This is in addition to its original search and distribution activity.
The company says its board of directors will consider each investment or acquisition individually, and will assess the degree to which each offer fits the company’s financial situation and business strategy.
The board of directors also approved the company’s investment policy, as recommended by Babylon's investment committee. The company will invest in liquid financial investments, with a stock portfolio of up to $25 million of the company’s cash balances.
The company also announced a deal to invest up to $1million in mobile games developer Gamein30 for a 42% stake.
Published by Globes [online], Israel business news - www.globes-online.com - on March 4, 2015
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