Looks like another exit for an Israel-based startup — this one straddling the worlds of cloud services and hardware control.Soluto, a service that lets users manage PCs and other connected devices remotely, is getting acquired by Asurion, a company that offers device insurance services. The news is being reported as a work in progress by TheMarker andCalcalist. Globes, meanwhile, is reporting this as a done deal. Meanwhile, we have confirmed the sale through two separate sources. We’re hearing reports of up to $130 million, specifically between $100 million and $130 million.
You can see where a deal with Asurion makes a lot of sense.
The latter company, based out of Nashville, Tennessee, partners with carriers like Verizon, Sprint, AT&T, T-Mobile, and Clear to resell its services to consumers. Those services include physical replacement of broken devices — consumers can file and track claims — but there are also a suite of services that are software-based, such as the ability to locate lost devices and back up content. Soluto will help Asurion extend and improve the latter part of the service, perhaps as a way also to offset some of the insurance risk around losing and replacing faulty or broken handsets.
