Absolute Software continues to build momentum in Federal government as
agencies move to secure computers and sensitive information
VANCOUVER, Oct. 3 /CNW/ - Absolute(R) Software Corporation ("Absolute" or
the "Company") (TSX: ABT), the leading provider of firmware-based, patented
Computer Theft Recovery, Data Protection and Secure Asset Tracking(TM)
solutions announced today the largest sales contract in the company's history.
Signed with a major U.S. Federal agency, the $1.7 million contract expands
this existing customer's Computrace(R)Complete(TM) deployment to more than
37,000 licenses for a term of three years. All dollar amounts are represented
in US dollars unless otherwise specified.
"As government agencies and departments implement plans to better secure
their mobile computers and the sensitive information on them, they are seeking
industry-standard tools and best practices from established vendors," said
John Livingston, Chairman and CEO of Absolute Software. "This latest sales
contract will help a key Federal agency track and secure 37,000 of their
40,000 laptop and desktop computers. We believe this is strong validation that
Absolute's BIOS-supported hardware and data protection products are viewed as
a critical solution in government settings."
The corresponding monitoring services commence September 30, 2007, with
full payment due on standard invoice terms. Revenue from the sale will be
recognized ratably over the 36 month term commencing in October 2007.
ComputraceComplete helps Federal IT professionals balance the demands of
a mobile workforce with the data security and reporting requirements of state
and Federal privacy regulations. By logging into a secure Online Customer
Center, IT departments can track the location of their computers, who is using
them and what is installed on them. ComputraceComplete can even detect missing
hardware or unauthorized software installations. Should a computer go missing,
the BIOS-embedded(1) Computrace agent helps the Absolute Recovery Team recover
the computer backed by a $1,000 recovery guarantee(2). To prevent sensitive
information from falling into the wrong hands, ComputraceComplete can remotely
wipe sensitive data(2) as well as determine whether the information on a
stolen computer has been compromised.
For more information on ComputraceComplete or Absolute, visit
(1) Visit www.absolute.com/partners/oem-partners.asp for a complete list
of BIOS enabled computers.
(2) Please visit http://www.absolute.com/PDF/EULA.pdf for full terms and
About Absolute Software
Absolute Software Corporation (TSX: ABT) is the leader in Computer Theft
Recovery, Data Protection and Secure Asset Tracking(TM) solutions. Absolute
Software provides organizations and consumers with solutions in the areas of
regulatory compliance, data protection and theft recovery. The Company's
Computrace(R) software is embedded in the BIOS of computers by global leaders,
including Dell, Fujitsu, Gateway, HP, Lenovo, Panasonic and Toshiba, and the
Company has reselling partnerships with these OEMs and others, including
Apple. For more information about Absolute Software and Computrace, visit
This press release contains forward-looking statements that involve risks
and uncertainties. These forward-looking statements relate to, among other
things, the expected performance of our services and products, possible
guarantee payment eligibility, 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 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.
(C) 2007 Absolute Software Corporation. All rights reserved. Computrace
and Absolute are registered trademarks of Absolute Software Corporation.
Computrace U.S. patents No. 5,715,174, No. 5,764,892, No. 5,802,280,
No. 5,896,497, No. 6,244,758, No. 6,269,392, No. 6,300,863, and
No. 6,507,914. Canadian patents No. 2,284,806 and No. 2,205,370. U.K.
patents No. EP793823 and No. GB2338101. German patent
No. 695 125 34.6-08. Australian patent No. 699045.
The Toronto Stock Exchange has neither approved nor disapproved of the
information contained in this news release.
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