Vancouver’s Absolute Software announced today that they are being acquired by private equity firm Crosspoint Capital Partners.
Crosspoint Capital is a team of world-class technology leaders, operators and investors who have dedicated their careers to building great companies. Crosspoint brings significant cybersecurity expertise that will help drive the Company’s next phase of growth.
According to the terms of the agreement, Absolute shareholders will receive a cash payment of USD $11.50 per common share upon the successful completion of the acquisition. This translates to a total enterprise value of approximately USD $870 million, inclusive of the existing debt.
“For the past five years, our focus has been on creating the industry’s only truly self-healing security platform centered on resilience,” said Christy Wyatt, President and CEO of Absolute.
“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, while positioning Absolute for an exciting future across all key stakeholders, including Absolute team members throughout the organization, our OEM partners and reseller network, and our more than 21,000 customers around the world.”
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