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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Absolute Software Corporation    ABST   CA00386B1094

ABSOLUTE SOFTWARE CORPORATION

(ABST)
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Absolute Software : Expands Sensitive Data and Device Protections for Remote Endpoints with Enhancements to Undeletable Defense Platform

06/18/2020 | 07:56am EST

Absolute (ABT.TO), the leader in Endpoint Resilience, today announced new platform capabilities enabling customers to strengthen sensitive data and endpoint device protections in remote or hybrid work environments.

Enhancements allow IT and Security teams to gain a richer understanding of their endpoint device environments; more quickly and effectively assess data or device risk; and take swift action to freeze or erase data on dark endpoints, even without physical device access.

The company also introduced the ability to perform a cryptographic erasure, a remote wipe of data from encrypted Windows or Mac endpoint devices, which renders it irretrievable. Upon completion, public and private sector organizations - notably, those in government and healthcare - can generate a certificate of sanitization within the Absolute console that meets requirements set forth by the NIST Special Publication 800-88 Guidelines for Media Sanitization and the HIPAA Security Rule.

As millions of workers were sent home with devices due to the COVID-19 outbreak, recent data from Absolute's Remote Work and Distance Learning Insights Center revealed a 34 percent increase in the instances of sensitive data - such as Personal Identification Information (PII), Personal Health Information (PHI), and Personal Financial Information (PFI) - identified on enterprise endpoint devices. To help organizations minimize the risk of exposure or a breach, Absolute's customizable data risk reports now include critical device information like encryption status and security application health, allowing IT and Security teams to understand the context of how and where data is being stored and take more targeted action to safeguard it.

'With the future of work still evolving, there has never been a greater need for scalable security solutions capable of protecting users, devices, and data, no matter where they are,' said Ameer Karim, Executive Vice President of Product Management at Absolute. 'For many organizations, managing remote employees and their devices is no longer seen as a short-term business continuity effort, but rather a core element of their operating models moving forward. Ensuring sensitive data is protected requires a clear understanding of where it might be most vulnerable, and the ability to take swift action to protect the device where it is being stored - even if that device is remote and off-network.'

Absolute, embedded in firmware of half a billion devices across more than 25 leading Original Equipment Manufacturers (OEMs), now delivers an enhanced integration with leading SIEM tools as well as deeper insights into historical device events and activities. While many security tools can provide a real-time snapshot of an organization's endpoint environment, Absolute enables IT and Security teams to supplement network data with rich endpoint data and generate the holistic view needed to identify patterns or trends that heighten data or device exposure and take swift, targeted action to mitigate risk.

Other enhancements to the Absolute platform in the latest software release include:

Automated, rule-based policies to freeze remote endpoint devices that have gone dark and undetected by the Absolute console for a specified period

An expanded ecosystem of security controls that Absolute customers can persist and self-heal, ensuring they remain healthy and virtually undeletable

General availability of Web Usage analytics for K-12 educational institutions, helping them stand up, monitor, and measure the effectiveness of distance learning programs

To learn more about the new capabilities included in Absolute's latest software release, visit here. To learn more about how Absolute's undeletable digital tether enables Endpoint Resilience, Self-Healing Endpoint security, and always-connected visibility, visit www.absolute.com.

About Absolute

Absolute serves as the industry benchmark for Endpoint Resilience, visibility and control. Embedded in over a half-billion devices, the company enables more than 12,000 customers with Self-Healing Endpoint security, always-connected visibility into their devices, data, users, and applications - whether endpoints are on or off the corporate network - and the ultimate level of control and confidence required to support the modern enterprise. For the latest information, visit www.absolute.com and follow us on LinkedIn or Twitter.

2020 Absolute Software Corporation. All rights reserved. ABSOLUTE, the ABSOLUTE logo, SELF-HEALING ENDPOINT, and PERSISTENCE are registered trademarks of Absolute Software Corporation. Other names or logos mentioned herein may be the trademarks of Absolute or their respective owners.

For more information, please contact:

Media Relations

press@absolute.com or 408-313-9974

Investor Relations

IR@absolute.com or 212-868-6760

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 117 M - -
Net income 2021 6,92 M - -
Net cash 2021 0,28 M - -
P/E ratio 2021 57,6x
Yield 2021 2,34%
Capitalization 502 M 501 M -
EV / Sales 2021 4,28x
EV / Sales 2022 3,70x
Nbr of Employees 520
Free-Float 99,4%
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Mean consensus OUTPERFORM
Number of Analysts 8
Average target price 13,16 $
Last Close Price 10,26 $
Spread / Highest target 46,2%
Spread / Average Target 28,3%
Spread / Lowest Target -22,2%
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Managers
NameTitle
Christy Wyatt President, Chief Executive Officer & Director
Daniel P. Ryan Chairman
Steven H. Gatoff Chief Financial Officer
Nicko van Someren Chief Technology Officer
William Morris Executive Vice President-Engineering
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