Allot Ltd.

Last updated
Allot Ltd.
FormerlyAllot Communications
Company type Public
Nasdaq:  ALLT
TASE:  ALLT
Industry Telecommunication
Founded1996;28 years ago (1996)
Key people
Products
Revenue US$ 146 million (2021) [1]
Total equity US$ 126 million (2021) [1]
Number of employees
700
Website allot.com

Allot Ltd., formerly Allot Communications, is an Israeli high-tech company that develops telecommunications software. The company is headquartered in Hod Hasharon, Israel.

Contents

History

Allot was founded in 1996, by Michael Shurman and Yigal Jacoby. [2] By 2004, the company raised $38 million in several rounds of funding from several venture capital funds. [2] In November 2006, it became a publicly traded company on the Nasdaq Global Market under the ticker symbol ALLT. The IPO raised $78 million. [3] In November 2010, Allot's dual listing on the Tel Aviv Stock Exchange was approved. [4] Allot provides network intelligence and network-based security products for communications service providers (CSPs) of mobile broadband, wireless broadband, mobile satellite service, and DSL carriers, as well as enterprises. [5]

In 2012, Allot acquired San Diego–based Ortiva Wireless, which specializes in optimizing video streaming across wireless networks, [6] and Oversi Networks, a global provider of rich-media caching and content delivery for Internet video and peer-to-peer (P2P) traffic. [7]

In February 2015, Allot acquired Optenet, an IT security company providing Security-as-a-Service products to service providers and enterprises, for $6.5 million. [8]

In 2017, the company appointed Erez Antebi to the position of CEO. [9] At the same time, Allot Communications announced a new collaboration with Intel Security to introduce McAfee Unified Security Powered by Allot, providing complete end-to-end security capabilities. [10] Allot together with Nokia Networks and Swisscom, a telecommunications provider in Switzerland, integrated Allot Cloud Access Optimization platform into Swisscom's data center architecture to support higher performance service delivery to customers. [11] [12]

Also in 2017, Worldwide Flight Services (WFS) implemented Allot's Secure Service Gateway (SSG) unified solution for real-time network intelligence, control and security across their entire network. [13]

In November of that year, Allot and its partner Openet upgraded the Allot Service Gateway service with Allot Service Gateway 9500 (SG-9500) and expanded its deployment across all three TELE-POST business units for enhanced policy control and charging. [14]

In January 2018, the company acquired Netonomy, a developer of software-based cybersecurity for the connected home. [15] In February, Allot was awarded "best mobile security solution" in the 2018 Cybersecurity Excellence Awards. [16] In July, the company signed a distribution agreement with Lifeboat Distribution, the international value-added distributor for emerging technologies and subsidiary of Wayside Technology Group, to supply the Allot Secure Service Gateway (SSG) to its North American Enterprise and ISP customers. [17]

In 2020, Broadcom recommended Allot to its customers after discontinuing the PacketShaper product line, which Broadcom gained when it acquired Symantec. [18] In the same year, Allot expanded partnership with Telefónica and Mc Afee to improve infrastructure for cybersecurity services among Spanish SMEs caused by the rise in remote working since the start of the Covid-19 pandemic. [19] [20]

In January 2021, a new product, Allot DNS Secure, was presented. DNS Secure provides a security solution for customers of for communication service providers (CSPs) and fixed broadband subscribers. [21] In 2021, Dish Network, [22] Eolo, [23] Japan's Asahi Net, [24] Australia's Field Solutions Group [25] and Poland's Play [26] selected Allot products for their services.

In February 2022, Allot collaborated with Amazon Web Services to increase the full suite of Allot cloud-native applications on AWS for communication service providers. [27] At the same time, the company received a $40 million private financing by Lynrock Lake Master Fund LP. [28] In May, Allot signed a partnership with Singtel, a Singaporean telecommunications conglomerate, to offer cybersecurity services to Singtel's Small and Medium Sized Business (SMB) customers. [29]

In 2022, Allot's technology was chosen by Entel Peru, [30] Taiwan's Far EasTone Telecommunications [31] and Ethio Telecom. [32] Verizon has also selected Allot to provide security services. [33]

Controversy

In 2011, it was reported that equipment sold by Allot has illegally reached Iran. [34] [35] However, in January 2012 Allot was cleared by the Israeli Ministry of Defense 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. [36]

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References

  1. 1 2 "Allot Ltd. Press Release". Allot. 15 February 2022.
  2. 1 2 Dar, Zuri (2004-08-25), "Allot Communications wraps up $8 million financing round", The Marker, archived from the original on 2011-07-13{{citation}}: CS1 maint: bot: original URL status unknown (link)
  3. ↑ Krawitz, Avi (November 17, 2006). "Allot raises $78m. in Nasdaq listing". The Jerusalem Post.
  4. ↑ "Form 6-K". Securities and Exchange Commission. Archived from the original on December 20, 2016. Retrieved December 9, 2016.
  5. ↑ Grigonis, Richard (March 17, 2009), "Allot Communications' Sigma Service Gateway", TMCnet.com
  6. ↑ says, Anonymous (2012-05-03). "Xconomy: Buying SD's Ortiva Wireless Adds Video Optimization to Allot's Tools". Xconomy. Retrieved 2022-12-28.
  7. ↑ antaranews.com (5 September 2012). "Allot Communications Completes Acquisition of Oversi Networks". Antara News. Retrieved 2022-12-28.
  8. ↑ Reading 2/24/2015, News Wire Feed Light. "Allot to Acquire Optenet for $6.5M". Light Reading. Retrieved 2022-12-28.{{cite web}}: CS1 maint: numeric names: authors list (link)
  9. ↑ Carlson, Wyatt (2017-01-03). "Allot Communications Brings In a New CEO".
  10. ↑ "New security solution offers anytime, anywhere user protection". BetaNews. 2016-08-02. Retrieved 2023-01-09.
  11. ↑ "Nokia Networks and Allot Communications to Deliver Swisscom a Cloud Access Optimization Solution". 2015-12-08.
  12. ↑ "Nokia Networks and Allot Communications to Deliver Swisscom a Cloud Access Optimization Solution".
  13. ↑ "Keeping cargo safe". Datacentre Solutions. 2017-10-19. Retrieved 2023-01-09.
  14. ↑ "Total Telecom | News, analysis and events for global telecoms". totaltele.com. Retrieved 2023-01-09.
  15. ↑ Sharma, Ray. "Allot Acquires Startup Firm Netonomy to Expand Security Offerings". www.thefastmode.com. Retrieved 2022-12-28.
  16. ↑ "2018 Cybersecurity Product Awards - Winners and Finalists". Cybersecurity Excellence Awards. 2018-05-04. Retrieved 2023-01-02.
  17. ↑ "Lifeboat Distribution partners with Allot Communications (NASDAQ:CLMB) | Seeking Alpha". seekingalpha.com. 25 July 2018. Retrieved 2023-01-09.
  18. ↑ Sharma, Ray. "Broadcom Recommends Allot SSG as Replacement for Discontinued Symantec PacketShaper". www.thefastmode.com. Retrieved 2023-02-02.
  19. ↑ "Telecompaper". www.telecompaper.com. Retrieved 2023-02-21.
  20. ↑ Sharma, Ray. "Telefónica Extends Partnership with Allot and McAfee to Help Protect Spanish SMEs". www.thefastmode.com. Retrieved 2023-02-21.
  21. ↑ Sharma, Ray. "Allot Expands Security Portfolio with DNS Secure Solution for CSPs". www.thefastmode.com. Retrieved 2023-02-21.
  22. ↑ Sharma, Ray. "DISH Selects Allot for Protection Against DDoS and Botnet Attacks". www.thefastmode.com. Retrieved 2023-02-21.
  23. ↑ Sharma, Ray. "Italy's Eolo Expands Capacity of Allot's Network-based Cybersecurity Platform". www.thefastmode.com. Retrieved 2023-02-21.
  24. ↑ Sharma, Ray. "Japan's Asahi Net Launches Allot's SmartTraffic QoE Solution". www.thefastmode.com. Retrieved 2023-02-21.
  25. ↑ Desk, STS News (2021-11-16). "Field Solutions Group Selects Allot Secure to Provide Cybersecurity". SalesTech Star. Retrieved 2023-02-21.{{cite web}}: |last= has generic name (help)
  26. ↑ Sharma, Ray. "Play Partners Allot to Launch Clientless Cybersecurity and Content Control Services". www.thefastmode.com. Retrieved 2023-02-21.
  27. ↑ Desk, STS News (2022-02-09). "Allot & AWS to Enable Cloud-based 5G Network Intelligence". SalesTech Star. Retrieved 2023-01-26.{{cite web}}: |last= has generic name (help)
  28. ↑ "Allot Announces $40 Million Fi - GuruFocus.com". www.gurufocus.com. Retrieved 2023-01-26.
  29. ↑ Sharma, Ray. "Singtel Partners with Allot to Offer Cybersecurity Services to SMB Customers". www.thefastmode.com. Retrieved 2023-01-26.
  30. ↑ Allot (2022-01-10). "Entel Peru Launches Allot Security-as-a-Service Solution to Protect Mobile Users from Cyberattacks". GlobeNewswire News Room (Press release). Retrieved 2023-01-17.
  31. ↑ Sharma, Ray. "Allot Powers Far EasTone's Cybersecurity Protection Services". www.thefastmode.com. Retrieved 2023-01-17.
  32. ↑ Sharma, Ray. "Ethio Telecom Selects Allot Traffic Management Solution". www.thefastmode.com. Retrieved 2023-01-17.
  33. ↑ "Verizon to use Allot for cybersecurity | Light Reading". Light Reading. Retrieved 2023-02-02.
  34. ↑ "Israeli company sold surveillance equipment to Iran", Haaretz, December 23, 2011
  35. ↑ Elgin, Ben (23 December 2011). "Israel Didn't Know High-Tech Gear Was Sent to Iran". Bloomberg Businessweek.
  36. ↑ "Defense Ministry closes probe into Allot's alleged Iran sales". Globes. 25 January 2012.
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