Absolute Wins Multi-Million Dollar License Agreement with Top 50 Fortune 500 Manufacturer

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Absolute Wins Multi-Million Dollar License Agreement with Top 50 Fortune 500 Manufacturer

Canada NewsWire

With Absolute Data and Device Security--powered by Persistence®--the customer can monitor and secure devices, data, and applications on or off the corporate network.

VANCOUVER, Aug. 18, 2016 /CNW/ - Absolute® (TSX: ABT), the industry standard for persistent endpoint security and data risk management solutions, today announced a significant Absolute Data and Device Security (DDS) enterprise license agreement with a top 50 Fortune 500 US-based multinational manufacturer of medical devices, pharmaceutical, and consumer packaged goods.

The customer will complete a large global deployment of Absolute DDS to prevent the spread of malware and ransomware. With Absolute technology installed, compromised devices will be automatically quarantined and persistently disabled from accessing the corporate network.

Additional capabilities will be leveraged in support of their broader endpoint security strategy, including global asset management, the ability to persistently reinstall Microsoft SCCM for dependable patch management, and the collection of endpoint telemetry through their SIEM solution to identify and remediate emerging endpoint and user risk scenarios.

"Absolute has experienced increasingly strong growth in the enterprise space over the past year," stated Geoff Haydon, CEO at Absolute. "Large organizations – particularly those with global workforces – struggle to maintain visibility and control over all of their devices and the sensitive data they contain. Absolute DDS with Persistence technology can extend enterprise visibility across the corporate network and beyond. No other technology can do this."

The four-year license agreement, valued at approximately US$2.4 million, was billed in June 2016 with standard payment terms.

About Absolute

Absolute Software Corporation (TSX: ABT) is the industry standard in persistent endpoint security and data risk management solutions. Persistence® technology from Absolute provides organizations with visibility and control over all of their devices, regardless of user or location. If an Absolute client is removed from an endpoint, it will automatically reinstall so IT can secure each device and the sensitive data it contains. No other technology can do this. Persistence technology is embedded in the firmware of computers, netbooks, tablets and smartphones by global leaders, including Acer, ASUS, Dell, Fujitsu, HP, Lenovo, Microsoft, Panasonic, Samsung, and Toshiba, and the Company has reselling partnerships with these OEMs and others, including Apple. For more information about Absolute, visit www.absolute.com.

© 2016 Absolute Software Corporation. All rights reserved. Absolute and Persistence are registered trademarks of Absolute Software Corporation. For patent information, visit www.absolute.com/patents. The Toronto Stock Exchange has neither approved nor disapproved of the information contained in this news release.

SOURCE Absolute Software Corporation

Copyright CNW Group 2016

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