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Babylon shares jump as Yahoo sticks with cooperation deal

11
Nov
2013

By Steven Scheer JERUSALEM (Reuters) – Shares in translation software provider Babylon rose as much as 25 percent on Monday after Yahoo said it would maintain a cooperation agreement that accounts for a big chunk of the Israeli firm’s sales. Yahoo signed a four-year deal with Babylon earlier this year under which the two firms would share revenue from advertising. But last month Yahoo said it found violations in the agreement and Babylon promised to fix the issues. “Due to the pro-active actions taken by (Babylon), Yahoo does not intend to suspend or cancel the agreement,” Babylon said in a statement to the Tel Aviv Stock Exchange on Monday.

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