German state and corporate-backed venture capital fund High-Tech Gruenderfonds (HTGF) has exited Bab.la, the Germany-based operator of an online language portal, after the company was acquired by publisher Oxford University Press (OUP).
Founded in 2007, Bab.la runs an online language portal incorporating 39 bilingual dictionaries covering 28 languages, as well as a forum and a range of quizzes and games to help users learn more efficiently.
The deal, the size of which has not been disclosed, also provided exits to Mountain Partners and Berlin Venture Partners. HTGF provided funding for Bab.la in 2008.
Bab.la’s content will complement OUP’s own OxfordDictionaries.com site, and OUP intends to keep the acquired company’s Hamburg-located team intact.