Asurion to shut down Soluto

Soluto , the Israeli R&D center of warranty protection company Asurion , is shutting down and all 120 employees will be laid off by the end of the year.

The move was made as part of an internal reorganization at Asurion which includes downsizing its global workforce and changing its business focus and growth targets. Asurion will also be parting ways with hundreds of employees from its US offices as we’ve previously reported.

Soluto was founded in 2008 by Tomer Dvir and Ishay Green and was purchased by Asurion in 2013 for ~$100 million after raising $18 million in equity. Only a year ago, the startup named a new CEO – Merav Oren – who joined the company back in 2011.