Absolute Software Wins Multi Million Dollar Deal in the Healthcare Industry
Computrace Persistence Technology Selected as an Essential Compliance Solution
Vancouver, Canada: January 10, 2013–Absolute® Software Corporation(“Absolute” or the “Company”) (TSX: ABT), the industry standard for persistent endpoint security and management solutions for computers, laptops and ultra-portable devices – and the data they contain, announced today a Fortune 100 enterprise customer selected Absolute Computrace®as an essential component of its governance, risk management, and compliance (GRC) infrastructure for its entire population of desktops and laptops.
Computrace persistence technology is one of the key reasons the Fortune 100 customer selected Absolute as it will provide the customer with comprehensive control and visibility over all of its devices and the data they contain. The capacity for the customer to maintain a persistent ability to connect with each device in its population, regardless of user or location and even in circumstances where the drive has been reformatted or has been replaced, is a unique capability that no other vendor could provide. Without this persistence, it is impossible to properly secure a device – even when encryption is deployed – and be able to take action, either proactive or reactive, with any device deemed to be at risk.
“Corporations are realizing that encryption alone, while a good first step, is simply not enough to ensure the compliance and protection of the many vulnerable mobile devices and associated data that operate outside of their network,” said John Livingston, Chairman and Chief Executive Officer, Absolute Software. “Computrace gives organizations the best visibility and control over their devices and data available in the market today. We are encouraged by the success we’re achieving in the corporate and healthcare verticals and attribute it to the strong industry requirement to properly satisfy regulatory and compliance requirements.”
The customer will use Computrace to provide remote security capabilities that will cover the GRC spectrum, including security monitoring and first line emergency response to security incidents involving any device, regardless of the user or locale, deemed to be a risk to the organization. In these instances, Computrace can provide the customer with confirmation that data was deleted before it was compromised. In addition, the customer will be able to prove compliance with regulatory requirements, including the ability to ensure each device is clean of personal health information prior to decommissioning.
Computrace provides additional GRC capabilities beyond data governance, including geolocation technology, device administration, stolen device recovery, remote forensics and investigations and the ability for customers to receive alerts when specific conditions occur. Such conditions can include software license non-compliance, blacklisted software installation, and other conditions relative to GRC requirements.
The overall sales contract, which was valued at approximately US$3.5 million, was booked in the December quarter with standard payment terms. Revenue from the contract components is expected to be recognized over varying terms up to three 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.