Sale of Computrace validates the need for persistent endpoint security and extends growth in the Asia-Pacific region
VANCOUVER, Dec. 20, 2011 /PRNewswire/ - Absolute® Software Corporation ("Absolute" or the "Company") (TSX: ABT), the leading provider of firmware-embedded endpoint security and management solutions, today announced it has completed a Computrace® software license sale covering more than 60,000 student laptops with the Queensland Government's Department of Education and Training (DET) in Australia.
This transaction expands Absolute's existing relationship with Queensland DET and will be completed in calendar Q4. Under terms of the agreement, Absolute will sell its Computrace Data Protection product, with the sale amortized to revenue over a period of three to four years. Armed with Computrace, the Queensland DET has embraced best practices for data and device protection, and has taken steps to respond to and remediate loss and theft of their valuable student computing assets.
"By having access to laptops, our students are better equipped to access important online resources, resulting in improved collaboration and greater opportunity for personalised learning," stated DET's Information and Technologies Assistant Director-General David O'Hagan. "Absolute's Computrace technology provides schools and students with the security of knowing their machine can be tracked and traced should it ever be lost or stolen."
"We are pleased to strengthen our existing relationship with the Queensland DET by providing them with solutions to securely manage their laptops," said John Livingston, CEO of Absolute Software. "We believe our products are a must-have for any organization to maximize the value from their computing assets and to effectively and efficiently embrace mobility. Our expanded partnership with the Queensland DET validates our investment in the Asia-Pacific region and is a good indicator of the international market opportunity for Absolute Software."
How Computrace Technology Works
Computrace is powered by Absolute Software patented Computrace persistent technology. When embedded in the firmware of computers from leading computer manufacturers, Computrace can survive operating system re-installations, as well as hard-drive reformats, replacements and re-imaging, helping to ensure that the service is there when you need it most.* Whether in a PC or Mac, the software is virtually undetectable and calls home to the Absolute Monitoring Center with IT asset management information, including location. If a computer is reported stolen, the Absolute Theft Recovery Team works on behalf of the customer to gather evidence from the computer to identify the thief's location, and then works with local police to get the computer back. Customers can also remotely delete data to help keep it out of the hands of unauthorized users - a reliable contingency in case data protection solutions fail. Computrace can be easily activated by customers when they install a license ranging from 1-4 years.
*For a list of computers with firmware-embedded support, visit www.absolute.com/firmware
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's Computrace, Absolute Manage, Absolute Secure Drive, and LoJack for Laptops solutions provide organizations with actionable intelligence to prove compliance, generate fast ROI, reduce overhead, and deliver comprehensive visibility and control over all of their endpoints, anywhere, anytime. The Company's software agent 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 and http://blog.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.
©2011 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, and # 8,062,380. 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