Israel-based startup Soluto was recently acquired by device insurance services provider Asurion, according to news website Globes. On the other hand, news websites TheMarker and Calcalist both said the agreement was still a work in progress. However, tech website Techcrunch confirmed that the agreement as a done deal, citing two unnamed sources. Soluto was reportedly acquired by Asurion for an amount between the USD100 million and USD130 million range.

Techcrunch pointed out that Asurion's acquisition of the cloud-based device management startup was strategic. The Missouri-based company had partnered with multiple, major carriers to resell its insurance services to subscribers. Some of the phone carriers are Verizon, Clear, T-Mobile, Sprint and AT&T. The tech news site deduced that Soluto would help Asurion improve some of its services that are software-based, like content backup and lost device tracking.

The acquisition agreement was reportedly not specific on whether Soluto's R&D operations would be moving to the US or remain in Israel, said Techcrunch. Soluto and Asurion has yet to provide comment to Techcrunch about the details of the buyout.