Absolute Software Wins Multi Million Dollar Deal in the Healthcare Industry
Computrace Persistence Technology Selected as an Essential Compliance Solution
VANCOUVER, Jan. 10, 2013 /PRNewswire/ - Absolute® Software Corporation ("Absolute" or the "Company") (TSX: ABT), the industry standard for persistent endpoint security and management solutions for computers, laptops and ultra-portable devices - and the data they contain, announced today a Fortune 100 enterprise customer selected Absolute Computrace® as an essential component of its governance, risk management, and compliance (GRC) infrastructure for its entire population of desktops and laptops.
Computrace persistence technology is one of the key reasons the Fortune 100 customer selected Absolute as it will provide the customer with comprehensive control and visibility over all of its devices and the data they contain. The capacity for the customer to maintain a persistent ability to connect with each device in its population, regardless of user or location and even in circumstances where the drive has been reformatted or has been replaced, is a unique capability that no other vendor could provide. Without this persistence, it is impossible to properly secure a device - even when encryption is deployed - and be able to take action, either proactive or reactive, with any device deemed to be at risk.
"Corporations are realizing that encryption alone, while a good first step, is simply not enough to ensure the compliance and protection of the many vulnerable mobile devices and associated data that operate outside of their network," said John Livingston, Chairman and Chief Executive Officer, Absolute Software. "Computrace gives organizations the best visibility and control over their devices and data available in the market today. We are encouraged by the success we're achieving in the corporate and healthcare verticals and attribute it to the strong industry requirement to properly satisfy regulatory and compliance requirements."
The customer will use Computrace to provide remote security capabilities that will cover the GRC spectrum, including security monitoring and first line emergency response to security incidents involving any device, regardless of the user or locale, deemed to be a risk to the organization. In these instances, Computrace can provide the customer with confirmation that data was deleted before it was compromised. In addition, the customer will be able to prove compliance with regulatory requirements, including the ability to ensure each device is clean of personal health information prior to decommissioning.
Computrace provides additional GRC capabilities beyond data governance, including geolocation technology, device administration, stolen device recovery, remote forensics and investigations and the ability for customers to receive alerts when specific conditions occur. Such conditions can include software license non-compliance, blacklisted software installation, and other conditions relative to GRC requirements.
The overall sales contract, which was valued at approximately US$3.5 million, was booked in the December quarter with standard payment terms. Revenue from the contract components is expected to be recognized over varying terms up to three years.
About Absolute Software
Absolute Software Corporation (TSX: ABT) is the industry standard in persistent endpoint security and management for computers, laptops 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, 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.
©2013 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 # 5,715,174, # 5,764,892, # 5,802,280, # 5,896,497, # 6,087,937, # 6,244,758, # 6,269,392, # 6,300,863, # 6,507,914, # 7,818,557, # 7,818,803, # 7,945,709, # 8,062,380, # 8,234,359, # 8,241,369, # 8,307,055 and # 8,332,953. Canadian patents # 2,211,735, # 2,284,806, and # 2,205,370. U.K. patents # EP0793823, # GB2298302, and # GB2338101. German patent # 69512534. Australian patent # 699045. Japanese patent # JP4067035. The Toronto Stock Exchange has neither approved nor disapproved of the information contained in this news release.
SOURCE Absolute Software Corporation