Absolute Software Announces Term License Deal with the State of Queensland Department of Education & Training
Sale of Computrace Validates the Need for Persistent Endpoint Security and Extends Growth in the Asia-Pacific Region
Vancouver, Canada: December 20, 2011– Absolute® Software Corporation(“Absolute” or the “Company”) (TSX: ABT), the leading provider of firmware-embedded endpoint security and management solutions, today announced it has completed a Computrace®software license sale covering more than 60,000 student laptops with the Queensland Government’s Department of Education and Training (DET) in Australia.
This transaction expands Absolute’s existing relationship with Queensland DET and will be completed in calendar Q4. Under terms of the agreement, Absolute will sell its Computrace Data Protection product, with the sale amortized to revenue over a period of three to four years. Armed with Computrace, the Queensland DET has embraced best practices for data and device protection, and has taken steps to respond to and remediate loss and theft of their valuable student computing assets.
“By having access to laptops, our students are better equipped to access important online resources, resulting in improved collaboration and greater opportunity for personalised learning,” stated DET’s Information and Technologies Assistant Director-General David O’Hagan. “Absolute’s Computrace technology provides schools and students with the security of knowing their machine can be tracked and traced should it ever be lost or stolen.”
“We are pleased to strengthen our existing relationship with the Queensland DET by providing them with solutions to securely manage their laptops,” said John Livingston, CEO of Absolute Software. “We believe our products are a must-have for any organization to maximize the value from their computing assets and to effectively and efficiently embrace mobility. Our expanded partnership with the Queensland DET validates our investment in the Asia-Pacific region and is a good indicator of the international market opportunity for Absolute Software.”
How Computrace Technology Works
Computrace is powered by Absolute Software patented Computrace persistent technology. When embedded in the firmware of computers from leading computer manufacturers, Computrace can survive operating system re-installations, as well as hard-drive reformats, replacements and re-imaging, helping to ensure that the service is there when you need it most.* Whether in a PC or Mac, the software is virtually undetectable and calls home to the Absolute Monitoring Center with IT asset management information, including location. If a computer is reported stolen, the Absolute Theft Recovery Team works on behalf of the customer to gather evidence from the computer to identify the thief’s location, and then works with local police to get the computer back. Customers can also remotely delete data to help keep it out of the hands of unauthorized users – a reliable contingency in case data protection solutions fail. Computrace can be easily activated by customers when they install a license ranging from 1-4 years.
Absolute empowers more than 12,000 customers worldwide to protect devices, data, applications, and users against theft or attack — both on and off the corporate network. With the industry’s only tamper-proof endpoint visibility and control solution, Absolute allows IT organizations to enforce asset management, security hygiene, and data compliance for today’s remote digital workforces. Absolute’s patented Persistence®technology is embedded in the firmware of Dell, HP, Lenovo, and 22 other leading manufacturers’ devices for vendor-agnostic coverage, tamper-proof resilience, and ease of deployment. See how it works atwww.absolute.comand follow us at@absolutecorp.
This press release contains forward-looking statements and financial outlook that involve risks and uncertainties. These forward-looking statements and financial outlook relate to, among other things, the expected performance, functionality and availability of the Company’s services and products, and other expectations, intentions and plans contained in this press release that are not historical facts. When used in this press release, the words “plan,” “expect,” “believe” and similar expressions generally identify forward-looking statements. These statements reflect the Company’s current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and general market conditions. In light of the many risks and uncertainties, readers of the press release should understand that Absolute cannot assure them that the forward-looking statements and financial outlook contained in this press release will be realized. Furthermore, the forward-looking statements and financial outlook contained in this press release are made as of the date hereof and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements and financial outlook, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.