VANCOUVER, Oct. 3 - Absolute Software Corporation, a leading provider of firmware-based, patented Computer Theft Recovery, Data Protection and Secure Asset Tracking solutions announced today the largest sales contract in the company's history. Signed with a major U.S. Federal agency, the $1.7 million contract expands this existing customer's ComputraceComplete deployment to more than 37,000 licenses for a term of three years. All dollar amounts are represented in US dollars unless otherwise specified.
"As government agencies and departments implement plans to better secure their mobile computers and the sensitive information on them, they are seeking industry-standard tools and best practices from established vendors," said John Livingston, Chairman and CEO of Absolute Software. "This latest sales contract will help a key Federal agency track and secure 37,000 of their 40,000 laptop and desktop computers. We believe this is strong validation that Absolute's BIOS-supported hardware and data protection products are viewed as a critical solution in government settings."
The corresponding monitoring services commence September 30, 2007, with full payment due on standard invoice terms. Revenue from the sale will be recognized ratably over the 36 month term commencing in October 2007.
ComputraceComplete helps Federal IT professionals balance the demands of a mobile workforce with the data security and reporting requirements of state and Federal privacy regulations. By logging into a secure Online Customer Center, IT departments can track the location of their computers, who is using them and what is installed on them. ComputraceComplete can even detect missing hardware or unauthorized software installations. Should a computer go missing, the BIOS-embedded Computrace agent helps the Absolute Recovery Team recover the computer backed by a $1,000 recovery guarantee. To prevent sensitive information from falling into the wrong hands, ComputraceComplete can remotely wipe sensitive data as well as determine whether the information on a stolen computer has been compromised.