Absolute Software Surveys Corporate and Consumer Customers
VANCOUVER, Nov. 19 /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 recently polled its customers about their attitudes toward computer
and data security. Absolute surveyed two groups: corporate customers of
Absolute's Computrace(R) solutions and customers that had purchased
Computrace(R) LoJack(R) for Laptops, Absolute's computer tracking and recovery
solution for consumers.
"Consumers, as well as corporations, need to have a multi-layered
approach to computer and data security," says John Livingston, chairman and
CEO of Absolute Software. "Most of us store personal information, banking
records, credit card information, passwords and other sensitive data that
could be used to harm us if it falls into the wrong hands. For businesses, a
lost or stolen computer can lead to the intense media scrutiny associated with
a data breach. Consumers who experience the loss of a computer may be at
increased risk for identity theft and often lose irreplaceable photos, records
and music collections."
Absolute's survey of its consumer customers had 1842 qualified
respondents while 402 companies responded to the corporate survey. A summary
of each can be found below. For additional results from both surveys, please
Corporations Fear Data Breach: Corporate Survey Highlights:
Corporations should be fearful of a data breach. By their own estimates,
16% believe a significant breach can cost $1 million dollars or more, 20%
believe it can cost close to $100,000 and 22% believe it will cost nearly
$10,000. More than half of companies (62%) surveyed believe that historically,
computers have been lost or stolen that no one is even aware of.
Corporate customers leverage Computrace to recover missing computers
(82%) and deter theft (73%). In addition, 8 out of 10 (83%) companies said
they are better able to manage their computer assets with Computrace.
One in five (20%) companies reported experiencing a data breach in the
past and believe that the majority (61%) of data breaches are perpetrated by
internal employees. However, one in five (20%) also believe that sensitive
data has been breached that no one in the company is aware of. What kind of
data is being exposed? 39% have had confidential business information lost,
22% have had employee information breached, 22% have had customer information
misplaced and 16% have had Social Security numbers stolen.
Consumers are Concerned About Identity Theft: Consumer Survey Highlights:
Absolute's consumer survey found that one in five (20%) people knew of a
friend, family member or co-worker that had their computer lost or stolen.
Approximately one in 10 (8%) reported having their own personal or work
computer lost or stolen.
The majority (62%) of consumers had spent between $1000-$2000 on their
computer. One-fourth (25%) spent between $2000-$3000 and approximately one in
10 (7%) spent more than $3000. Although the vast majority (84%) of consumers
purchased Computrace LoJack for Laptops to recover their computer if it is
lost or stolen, one-fourth (25%) made the purchase to prevent identity theft.
Consumers are concerned about more than the cost of the hardware when a
computer is lost or stolen. Their top four concerns (in order of diminishing
importance) are losing their computer, having someone steal their identity,
losing files/data and having unauthorized persons access their files.
Consumers are taking steps to protect themselves but lag behind
corporations in their approach to computer security. Although all the
participants in this study are currently using asset tracking and recovery
solutions from Absolute Software, many are not implementing the most basic
forms of protection; 7% are not using anti-virus software; 16% do not have a
firewall; 46% are not backing up their data; 69% are not password-protecting
files; 72% do not use any form of cable lock to prevent theft; and more than
80% do not use any type of encryption or authentication software.
99% percent of consumer customers would recommend LoJack for Laptops to a
How Computrace Works
When a Computrace-equipped computer is reported stolen, the embedded
Computrace agent sends a silent signal to Absolute's Monitoring Center
providing critical location information. Absolute then works with local law
enforcement to recover the computer, and, if necessary, assists with search
warrant applications and subpoenas to ISP's. The stealthy Computrace software
agent can survive accidental or deliberate attempts at removal or disablement.
With embedded support in the BIOS(1) firmware of a computer, the Computrace
agent is capable of surviving operating system re-installations, as well as
hard-drive reformats, replacements and re-imaging.
(1) For a complete list of BIOS-supported computers please visit
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, Motion, Panasonic and Toshiba,
and the Company has reselling partnerships with these OEMs and others,
including Apple. For more information about Absolute Software and Computrace,
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
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