Cybersecurity provider Absolute Software to be acquired for $657M
Summary
Absolute Software Corp., a publicly traded cybersecurity provider, today announced that it has agreed to be taken private by Crosspoint Capital Partners in a $657 million deal. Vancouver-based Absolute Software sells a platform that helps organizations detect vulnerable and malicious devices in their corporate networks. Using Absolute Software’s platform, administrators can find devices that lack an antivirus program or have misconfigured data encryption settings. “For the past five years, our focus has been on creating the industry’s only truly self-healing security platform centered on resilience,” said Absolute Software Chief Executive Christy Wyatt. “By partnering with Crosspoint, a proven cybersecurity investor with a track record in building growth companies, we are delivering immediate cash value to our shareholders.” Absolute Software shareholders will vote on the acquisition at a special meeting scheduled to take place in late June.
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