Shalom Life | May 31, 2014

Israeli Startup Soluto Sold for $130 Million

Award winning startup, formerly led by Naftali Bennett, is purchased by Asurion Corporation

By: Omer Shachnai

Published: October 30th, 2013 in Business » Israel

Soluto, one of the best known Israeli startups, which has won numerous prizes and continues to receive appraisal, has been acquired by American company Asurion Corporation. According to CEO and founder Tomer Dvir, “All the workers will stay and we will continue to grow.” In the past, current Economy and Commerce Minister of Israel Naftali Bennet filled his position.

Anyway you look at it - it’s boom time for the Israeli high-tech industry.

2013 has been particularly good to Startup Nation; after Waze being acquired by Google, and Facebook's acquisition of Onavo, now Soluto has entered the realm. Soluto’s staff got wind that the company would be acquired for approximately $130 million; up to now, exact details of the purchase remain undisclosed.

Soluto, which is based in Tel Aviv, and employs 40 workers, will become Asurion’s development centre in Israel. For the American company, whose business is support for mobile devices, this is their first purchase in Israel.

Soluto, co-founded by Tomer Dvir and Ishay Green (which left last year for another startup), offers a successful and free-of-charge software which helps you optimize your computer's performance. Essentially, it analyses the applications loaded onto the PC's startup and how long they take to load. The application then suggests which processes are unnecessary, so you can get rid of them to expedite your computer's booting times.

With time the company changed direction, and now Soluto also allows to manage and solve PC and mobile issues from remote. In 2010 it gained worldwide recognition after winning the TechCrunch’s prestigious startup competition. The winning was documented in the Israeli reality TV series “Connected” (Mehubarim).

The biggest earners from the exit, are Tomer Dvir and Ishay Green, which are expected to get $13 million each. Other earners are the investors led by Eric Schmidt, Google’s CEO. "This is just the beginning," said Dvir, "We are bringing one of the world’s largest technological companies to Israel, which will open a development centre and hire hundreds of more people in Tel Aviv.”

"They are counting on us, and if until now we worked with millions of users, from now on we will work with tens of millions… We are very excited, mostly because they love our service," he added. Asurion's CEO replied "their platform will help us solve technical issues in the quickest and most efficient way."

Israel’s Simple Parenting Introduces One Step Car-Seat-to-Stroller Product, Parents Rejoice Trending New Ads for Huggies Diapers Raise a Stink in Israel Trending Startup Club: iBario Trending
 

The Top Ten Rolling Stone Songs We Want To Hear In Tel Aviv

May 31, 2014 | By Caitlin Marceau
The Top Ten Rolling Stone Songs We Want To Hear In Tel Aviv

The Stones play Yarkon Park in Tel Aviv on June 4th; in anticipation, here's our ideal setlist

Read More

THEATRE REVIEW: Flashdance the Musical

May 30, 2014 | By Sarah Bauder
THEATRE REVIEW: Flashdance the Musical

Despite the differences from its cinematic predecessor, Flashdance the Musical is fun, flashy, and brash.

Read More

Gwyneth Paltrow Compares Online Gossip to War

May 30, 2014 | By Ashley Ramnarain
Gwyneth Paltrow Compares Online Gossip to War

The 'Iron Man 3' actress needs to stop sharing her opinions publicly. Period.

Read More

Lea Michele Tells Chelsea Handler She Began Drinking as a Toddler

May 30, 2014 | By Ashley Ramnarain
Lea Michele Tells Chelsea Handler She Began Drinking as a Toddler

The 'Brunette Ambition' author joined Handler on 'Chelsea Lately' Thursday evening.

Read More

James Franco Pens Love Letter to Jonah Hill

May 30, 2014 | By Ashley Ramnarain
James Franco Pens Love Letter to Jonah Hill

The 'This is The End' co-stars could have a bromance in the works

Read More

Israel’s Simple Parenting Introduces One Step Car-Seat-to-Stroller Product, Parents Rejoice

May 30, 2014 | By Emma Mazerall
Israel’s Simple Parenting Introduces One Step Car-Seat-to-Stroller Product, Parents Rejoice

'The Doona' can transform from car seat to stroller with ease by unfastening one clip

Read More

Pope’s Handwritten Note From the Western Wall Published

May 30, 2014 | By Emma Mazerall
Pope’s Handwritten Note From the Western Wall Published

Pope Francis visited the Western Wall in Jerusalem on Monday, where he left a Spanish version of the Lord's Prayer

Read More

New Ads for Huggies Diapers Raise a Stink in Israel

May 30, 2014 | By Emma Mazerall
New Ads for Huggies Diapers Raise a Stink in Israel

An ad campaign featuring denim-diaper-clad babies has Israeli parents steaming

Read More

More Headlines