Growing Consumer Security Concerns Drive Changing Purchase Patterns

January 06, 2011

Absolute Software Commissioned Survey Highlights Top Mobile Security Concerns for Consumers

Vancouver, Canada: January 6, 2011 – Absolute® Software Corporation (“Absolute” or the “Company”) (TSX: ABT), the leading provider of firmware-based, patented, computer theft recovery, data protection and secure computer lifecycle management solutions today announced survey findings that highlight top consumer security concerns and the impact that those issues have on the decision to purchase laptops, mobile devices, and associated protection solutions.

The survey asked respondents to rank their top security concerns, and found that 62 percent of consumers listed ‘losing the data on their laptops’ and ‘identity theft’ as their primary worries. Surprisingly, while most respondents identified device and data security as a key issue, survey results indicated a large percentage of consumers were still not taking the necessary precautions to protect both the device and data.

“While it’s clear that the average consumer understands the importance of safeguarding their laptops and personal information, our data indicates a need for better consumer understanding of the need to protect both the device and data,” said Mark Grace, vice president of consumer business for Absolute Software. “The public needs to understand the importance of utilizing a solution that allows them to remotely manage and secure their laptops in order to reduce the devastating damage resulting from the loss of personal data or hardware.”

The survey also revealed that consumer security concerns are driving interest in more traditional enterprise security and device management solutions for their personal devices, including:

  • Geolocation (53 percent)
  • Remote file retrieval (50 percent)
  • Device freeze (50 percent)
  • Remote data delete (40 percent)
  • Mobile security applications (18 percent)

“The pervasiveness of mobile devices in our day-to-day lives is increasing, as is the value of the data on these devices. Our survey indicates that 2011 will see a greater demand from consumers for comprehensive security offerings to protect all of their devices and the data on them,” added Grace. “Absolute Software has long been the industry leader in protecting both device and data, and in delivering enterprise-caliber security solutions for consumers. Our focus is to continue to release next-generation device and data security features that will directly address the high-tech demands of today’s savvy consumers.”

Additional Survey Results

Hardware security concerns involve more than just laptops – According to the survey, 57 percent of respondents reported owning more than seven technology gadgets per household, including laptops, cell phones and digital cameras. Consumers are expressing interest in products designed to aid in the management of these devices. Early adopters have pegged mobile device security offerings as a logical next step, with 18 percent of respondents indicating that they would be very interested in a mobile security application.

Data loss more critical to consumers than hardware loss – While the loss of a computer or other hardware device is a critical concern for consumers, the data they often contain has become invaluable. According to the survey, data loss (62 percent), identity theft (62 percent) and unauthorized access to files contained on a database (51 percent) are identified as higher security concerns than the loss of the computer itself (41 percent.)

Methodology

More than 480 consumers were surveyed by Sentient Services in November 2010 on their computer and laptop purchasing decisions and associated security and data protection needs.

How LoJack for Laptops Works

LoJack® for Laptops is powered by patented Absolute Software Computrace® technology. It is virtually undetectable and phones home to the Absolute Monitoring Center with location information. In case of an emergency, customers can remotely freeze a computer or delete data from a lost or stolen computer to help protect their personal information. In addition, the Absolute Theft Recovery Team can gather evidence from the computer to identify the thief’s location and work with local police to get the computer back. When embedded in the firmware of computers from leading computer manufacturers,** LoJack for Laptops can survive operating system re-installations, as well as hard-drive reformats, replacements and re-imaging. It can be activated by customers when they purchase a subscription for LoJack for Laptops ranging from 1-3 years.

** For a complete list of firmware-supported computers, see www.absolute.com.

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About Absolute Software

Absolute Software (NASDAQ: ABST) (TSX: ABST) is the only provider of self-healing, intelligent security solutions. Embedded in more than 600 million devices, Absolute is the only platform offering a permanent digital connection that intelligently and dynamically applies visibility, control and self-healing capabilities to endpoints, applications, and network connections - helping customers to strengthen cyber resilience against the escalating threat of ransomware and malicious attacks. Trusted by more than 18,000 customers, G2 recognized Absolute as a leader for the tenth consecutive quarter in the Summer 2022 Grid® Report for Endpoint Management and as a high performer in the G2 Grid Report for Zero Trust Networking.

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Forward-Looking Statements

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.

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