Vancouver, Canada: October 5, 2015 – Absolute® Software Corporation (TSX: ABT) the industry standard for persistent endpoint security and data risk management solutions, today announced the completion of the sale of Absolute Manage and Absolute Service to HEAT Software for approximate total gross proceeds of USD$11.0 million, including customary closing adjustments.
Absolute intends to use the proceeds from the transaction for general corporate purposes. Following the completed divestiture, Absolute and HEAT Software will begin to transition Absolute Manage and Absolute Service customers, and certain assets and operations.
“With the divestiture complete, we can now singularly focus on our core information security technology, the long-term growth driver for our business,” said Geoff Haydon, chief executive officer, Absolute. “We selected HEAT Software because of its commitment to support the Manage and Service technology and customer base. We look forward to working with HEAT Software to ensure a seamless transition.”
About Absolute
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 at www.absolute.com and follow us at @absolutecorp.
©2019 Absolute Software Corporation. All rights reserved. ABSOLUTE and PERSISTENCE are registered trademarks of Absolute Software Corporation. Other names or logos mentioned herein may be the trademarks of their respective owners. For patent information, visit www.absolute.com/patents. The Toronto Stock Exchange has neither approved nor disapproved of the information contained in this press release.
For more information, please contact:
Media and Analyst Relations
Jill Rosenthal, InkHouse
absolute@inkhouse.com or 781-966-4167
Investor Relations
Joo-Hun Kim, MKR Group
joohunkim@mkrir.com or 212-868-6760