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.”