History
Allot was founded in 1996, by Michael Shurman and Yigal Jacoby. By 2004, the company raised $38 million in several rounds of funding from severalventure capital fund
Venture capital (VC) is a form of private equity financing that is provided by venture capital firms or funds to start-up company, startups, early-stage, and emerging companies that have been deemed to have high growth potential or which have dem ...
. In November 2006, it became a publicly traded company on the Nasdaq
The Nasdaq Stock Market () is an American stock exchange
A stock exchange, securities exchange, or bourse is an exchange
Exchange may refer to:
Places United States
* Exchange, Indiana
Exchange is an Unincorporated area, unincorpora ...
Global Market under the ticker symbol ALLT. The IPO
An initial public offering (IPO) or stock launch is a public offering
A public offering is the offering of securities
A security is a tradable financial asset. The term commonly refers to any form of financial instrument
Finance is the ...
raised $78 million. In November 2010, Allot's dual listing on the Tel Aviv Stock Exchange was approved. Allot provides network intelligence and network-based security products for Communication Service Providers (CSPs) of mobile broadband, wireless broadband
Wireless broadband is telecommunications technology that provides high-speed wireless
Wireless communication (or just wireless, when the context allows) is the transfer of information between two or more points that do not use an electrical ...
, mobile satellite service, and DSL
Digital subscriber line (DSL; originally digital subscriber loop) is a family of technologies that are used to transmit digital data
Digital data, in information theory and information systems, is information represented as a string of discr ...
carriers, as well as enterprises.
In 2011, it was reported that equipment sold by Allot has illegally reached Iran
Iran ( fa, ایران ), also called Persia, and officially the Islamic Republic of Iran, is a country in Western Asia
Western Asia, West Asia, or Southwest Asia, is the westernmost subregion
A subregion is a part of a larger regio ...
. However, in January 2012 Allot was cleared by the Israeli Ministry of Defense
The Ministry of Defense ( he, מִשְׂרַד הַבִּטָּחוֹן, Misrad HaBitahon, Ministry of Security) of the government of Israel, is the governmental department responsible for defending the State of Israel from internal and extern ...
of any wrongdoing, as the investigation concluded that the company was unaware that the internet monitoring equipment it sold to the Danish distributor ended up in Iranian hands. Also in 2011, Allot settled a class-action lawsuit regarding securities fraud involving its stock whereby it agreed to pay $1.3 million (USD).
References
{{TA 100 companies Networking hardware companies Telecommunications companies of Israel Electronics companies of Israel Companies listed on the Nasdaq Companies listed on the Tel Aviv Stock Exchange Israeli brands