Bennett to make millions from Soluto sale

Economy minister served for short period as CEO of Israeli company purchased Tuesday by American Asurion Corporation for some $130 million. Following acquisition, his fortune expected to grow by several millions of shekels

Economy Minister Naftali Bennett had some good reasons to smile Wednesday. It turns out that Bennett, who served for a short period as the CEO of Soluto, an Israeli company acquired Tuesday by American Asurion Corporation for some $130 million, is expected to earn several millions of shekels from the sale.


Bennett had stock options in Soluto from that brief period. Today his investment in the company is managed by a blind trust.


This isn't Bennett's first exit. He already became quite wealthy from the sale of anti-fraud software company Cyota to RSA Security for $143 million in 2005.


The economy minister refused to comment on his profit from the new exit, but said he was happy for the success of any Israeli company.


"If it's true," he told Ynet about the sale, "it's a wonderful thing for the State of Israel and for the excellent group of employees. And if it's true, I'm not surprised because CEO Tomer Dvir is a big shot."


Ishay Green, one of the Soluto entrepreneurs, said in the past: "We are going to make (Bennett) slightly richer one day, because he still has holdings in the company.


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


Soluto offers a successful and free-of-charge software which helps you optimize your computer's performance. Essentially, it analyzes 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).


Omer Shachnai of Shalom Life contributed to this report



פרסום ראשון: 10.31.13, 12:58
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