Three Israeli Baby Googles

Looking for a way to play Google's decent results? Look at the public Israeli internet companies whose business models are driven by Google. Looking for a way to play it safe? Look at these same companies - which are trading at cash or close to cash.

Incredimail (MAIL), Answers.com (ANSW) and Babylon (traded on TASE: BBYL) have significant revenue driven by Google's Adsense or toolbars. In addition, these companies are trading at pretty low multiples, and in at least one case are sitting on plenty of cash relative to market cap. These are all thinly traded stocks - so it is tough to build a position - but I think they can all be interesting.