Absolute Software Completes a US$1.4 Million Dollar Sale to an Education Customer to Track, Manage and Secure Computing Assets
Computrace Provides an Essential Security Layer to Enable Computer Learning Initiatives
Vancouver, Canada: May 7, 2012– 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 US$1.4 million Computrace® Complete sale to provide its asset administration, theft management and investigative services to an existing education customer in the United States.
This contract win expands Absolute’s install base with this customer to more than 100,000 computers. Absolute recorded the sale in April and will recognize the associated revenue over a five-year period. Armed with Computrace, the school district has embraced best practices for asset administration and data and device protection. In addition, Computrace’s ability to persist enables the customer to track, manage and recover its computers over their entire five-year lifecycle, which fulfills a key requirement for the customer’s Federal funding grants.
“Winning such a sizable follow-on Computrace contract with an existing customer is a strong testament to the quality of service we provide to our clients and the important role our anti-theft offerings play in helping organizations better track, manage and secure their computing devices,” said John Livingston, CEO of Absolute Software. “Computers have become such an important educational tool for students. We are pleased that Computrace helps school districts embrace this learning initiative.”
How Computrace Technology Works
Computrace and LoJack® for Laptops are powered by the Absolute Software patented Computrace persistence 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 a Windows, Mac or Android device, the software is virtually undetectable and phones home to the Absolute Monitoring Center with location and asset information. If a computer is reported stolen, the Absolute Investigative Services 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 or LoJack for Laptops can be easily activated by customers when they install a license ranging from one to five 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.