Absolute Software, its debt acquired by Crosspoint Capital affiliate

By William Gullotti

Buffalo, N.Y., July 27 – Absolute Software Corp. announced it has been acquired by 1414364 B.C. Ltd., an affiliate of Crosspoint Capital Partners, LP, in a press release on Thursday.

The companies entered a definitive agreement on May 11 for the acquisition.

Under the agreement, all outstanding common shares of Absolute would be purchased for $11.50 per share in cash, corresponding to an enterprise value of approximately $870 million, inclusive of Absolute’s debt.

As a result, Absolute’s common shares will be delisted from the Toronto Stock Exchange and the Nasdaq Global Select Market and Absolute will cease to be a reporting issuer in the applicable U.S. and Canadian jurisdictions.

Based in Vancouver, B.C., Absolute is a software company focused on computer theft recovery and secure asset tracking. Crosspoint Capital Partners is a private equity investment firm focused on the cybersecurity, privacy and infrastructure software markets.

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