Technology protection solutions company Asurion Corp. has completed the acquisition of Israeli online software problem solver Soluto. No financial details were disclosed but it is believed that Asurion is buying Soluto for about $100 million.
Asurion said that Soluto's support capabilities will be integrated into its Premier Support Solutions line of services, which offers consumers an expert support technician, capable of addressing a wide range of hardware and software topics and issues. Asurion added that the acquisition will enhance its ability to address the full spectrum of challenges consumers may face throughout the life of their device.
Founded in 2008, Tel Aviv-based Soluto's innovative technology management software has been downloaded more than 3 million times and has seen more than 15 million user actions. The company earned a reputation as a leader in delivering customer-friendly technology support solutions. Soluto has changed the traditional technology support model by offering an unmatched set of tools and device insights, empowering customers to maximize the functionality of their technology devices.
Soluto CEO Tomer Dvir said, "Today, every household is becoming a small IT environment, with multiple devices and platforms. Our solution helps everyone enjoy the technology and services they use."
He added, "When we started talking with Asurion, we were thrilled to discover an organization that shares our vision of making people happier with technology. We're excited that with Asurion's global reach and strong channel partner relationships, our service will positively impact more people than ever before."
Soluto raised $20 million from Giza Venture Capital, Bessemer Venture Partners, and Index Ventures, as well as private investors Eric Schmidt and Michael Arrington.
Published by Globes [online], Israel business news - www.globes-online.com - on November 12, 2013
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