Allot
Allot Ltd., formerly Allot Communications, is an Israeli high-tech company that develops telecommunications software. 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 several venture capital fund. In November 2006, it became a publicly traded company on the Nasdaq Global Market under the ticker symbol ALLT. The IPO 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, mobile satellite service, and DSL carriers, as well as enterprises. In 2011, it was reported that equipment sold by Allot has illegally reached Iran. 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. Also in 2011, Allot settled a class-action lawsuit regarding securities fraud involving its stock whereby it agreed to pay $1.3 million (USD).