VANCOUVER, Oct. 24, 2012 /CNW/ - Absolute® Software Corporation ("Absolute" or the "Company") (TSX: ABT), the leading provider of firmware-embedded, persistent endpoint security and management solutions, provided an update on business growth plans.
With the recent announcement of Absolute Manage 6.1.2 supporting OS X 10.8 Mountain Lion and the soon to be released Windows 8, as well as providing mission critical governance, risk management and compliance (GRC) capabilities with Computrace® 5.12, Absolute is positioned as a clear leader in the convergence of endpoint security and management. Using Absolute technology, customers are able to maintain visibility and control over all of their devices, regardless of platform, form factor and locale, to prove compliance and mitigate risk. Absolute will continue to strengthen its market leadership through innovative product development and, where appropriate, small acquisitions.
Absolute is confident that the Company has built a sales platform that is ready to support and effectively monetize tuck-in acquisitions. Absolute has already demonstrated success in this regard with its Absolute Manage product, growing sales five-fold since acquiring the product line in 2009.
In a recent interview, John Livingston, Chairman and CEO of Absolute Software commented on the Company's strategy with respect to acquisitions. Absolute has discussed its business strategy, including acquisitions, during prior earnings calls and in the Company's annual disclosure materials.
"Acquisitions will be an integral part of the growth strategy for Absolute over the course of the next 12-month period," stated John Livingston. "We are focused on targets valued at USD$25 million and less and will likely finalize a deal at the lower end of the range within the next 90 days."
For future acquisitions, Absolute will focus on opportunities in the US, as that is where the majority of the Company's customers are located. The Company targets small acquisitions that will leverage its firmware persistence position and create further competitive advantages, complement Absolute's many devices, one solution vision, and increase the Company's total addressable market, in a market ripe for disruption. Absolute plans to finance future acquisitions primarily with the Company's cash reserve.
Absolute's management and Board of Directors review opportunities and will execute a transaction only if they believe it is in the best interest of the Company and its shareholders. As such, there is no guarantee that the Company will prove successful in its acquisition strategy. Should Absolute make material progress on its acquisition strategy, the Company will update the market as appropriate.
About Absolute Software
Absolute Software Corporation (TSX: ABT) is the world leader in firmware-embedded endpoint security and management for computers and ultra-portable devices. The Company, a leader in device security and management tracking for more than 18 years, has over 30,000 customers worldwide. Positioned as a Visionary vendor in Gartner, Inc.'s Magic Quadrant for Client Management Tools, Absolute's solutions - Computrace, Absolute Manage, Absolute Secure Drive, and Computrace LoJack for Laptops - provide organizations with actionable intelligence to prove compliance, securely manage BYOD, and deliver comprehensive visibility and control over all of their devices and data. The Company's Computrace persistence technology is embedded in the firmware of computers, netbooks, and tablets by global leaders, including Acer, ASUS, Dell, Fujitsu, HP, Lenovo, Motion, Panasonic, Samsung, and Toshiba, and the Company has reselling partnerships with these OEMs and others, including Apple. For more information about Absolute Software, visit www.absolute.com.
This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, the expected performance, functionality and availability of our services and products, our intention to complete acquisitions, and other expectations, intentions and plans contained in this press release that are not historical fact. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology, our ability to complete an acquisition and general market conditions. In light of the many risks and uncertainties you should understand that we cannot assure you that the forward-looking statements contained in this press release will be realized.
©2012 Absolute Software Corporation. All rights reserved. Computrace and Absolute are registered trademarks of Absolute Software Corporation. LoJack is a registered trademark of LoJack Corporation, used under license by Absolute Software Corporation. LoJack Corporation is not responsible for any content herein. U.S. patents No. 5,715,174, No. 5,764,892, No. 5,802,280, No. 5,896,497, No. 6,087,937, No. 6,244,758, No. 6,269,392, No. 6,300,863, No. 6,507,914, No. 7,818,557, No. 7,818,803, No. 7,945,709 and No. 8,062,380. Canadian patents No. 2,211,735, No. 2,284,806, and No. 2,205,370. U.K. patents No. EP0793823, No. GB2298302, and No. GB2338101. German patent No. 69512534. Australian patent No. 699045. Japanese patent No. JP4067035. The Toronto Stock Exchange has neither approved nor disapproved of the information contained in this news release.
SOURCE: Absolute Software Corporation
For further information:
Chris Michaels, HORN Group
[email protected] or 415.905.4030/805.390.0819
Marina Guy, Absolute Software
[email protected] or 604.730.9851 x107