Absolute Software Announces New Nominees to Board of Directors

VANCOUVER, Nov. 15, 2012 /CNW/ - Absolute® Software Corporation ("Absolute" or the "Company") (TSX: ABT), the leading provider of firmware-embedded, persistent endpoint security and management solutions, announced today the addition of Eric Rosenfeld and Gregory Monahan to the management proposed slate of nominee directors for the Company's forthcoming annual general meeting of shareholders to be held on December 13, 2012.

"I am pleased to welcome both Eric and Gregory to the proposed slate of nominee directors," said John Livingston, Chairman and Chief Executive Officer. "They both bring proven financial expertise and business acumen, which will help enhance shareholder value."

"We are enthusiastic about the opportunity with Absolute and the potential to work with both the Board and the management team," stated Eric Rosenfeld, President and CEO of Crescendo Partners. "We believe there is a strong market opportunity for the Company and we look forward to working with the team to develop and execute business strategies to capitalize on that opportunity to increase shareholder value."

Mr. Rosenfeld has been the President and Chief Executive Officer of Crescendo Partners, a New York based investment firm, since its formation in November 1998. Following discussions with Crescendo Partners, the Company reached an agreement whereby, among other things, the proposed slate of nominee directors for election at the upcoming annual meeting of shareholders will consist of John Livingston, J. Ian Giffen, Terry Libin, Ian Reid, Daniel P. Ryan, Eric Rosenfeld and Gregory Monahan. In addition, the newly constituted board and Crescendo will work together to identify an additional person with appropriate industry experience to join the Board of Directors as soon as practicable.

Full information on the proposed nominees will be contained in the Company's management information circular that will be mailed to shareholders and available on www.sedar.com shortly.

About Absolute Software

Absolute Software Corporation (TSX: ABT) is the world leader in firmware-embedded endpoint security and management for computers and ultra-portable devices. The Company, a leader in device security and management tracking for more than 18 years, has over 30,000 commercial customers worldwide. Positioned as a Visionary vendor in Gartner, Inc.'s Magic Quadrant for Client Management Tools in 2012, Absolute's solutions - Computrace, Absolute Manage, Absolute Secure Drive, and Computrace LoJack® for Laptops - provide organizations with actionable intelligence to prove compliance, securely manage BYOD,  and deliver comprehensive visibility and control over all of their devices and data. The Company's Computrace persistence technology is embedded in the firmware of computers, netbooks, and tablets by global leaders, including Acer, ASUS, Dell, Fujitsu, HP, Lenovo, Motion, Panasonic, Samsung, and Toshiba, and the Company has reselling partnerships with these OEMs and others, including Apple. For more information about Absolute Software, visit www.absolute.com.

This press release contains forward-looking statements that involve risks and uncertainties. These forward-looking statements relate to, among other things, the expected performance, functionality and availability of our services and products, and other expectations, intentions and plans contained in this press release that are not historical fact. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and general market conditions. In light of the many risks and uncertainties you should understand that we cannot assure you that the forward-looking statements contained in this press release will be realized.

©2012 Absolute Software Corporation. All rights reserved. Computrace and Absolute are registered trademarks of Absolute Software Corporation. LoJack is a registered trademark of LoJack Corporation, used under license by Absolute Software Corporation. LoJack Corporation is not responsible for any content herein. U.S. patents No. 5,715,174, No. 5,764,892, No. 5,802,280, No. 5,896,497, No. 6,087,937, No. 6,244,758, No. 6,269,392, No. 6,300,863, No. 6,507,914, No. 7,818,557, No. 7,818,803, No. 7,945,709 and No. 8,062,380. Canadian patents No. 2,211,735, No. 2,284,806, and No. 2,205,370. U.K. patents No. EP0793823, No. GB2298302, and No. GB2338101. German patent No. 69512534. Australian patent No. 699045. Japanese patent No. JP4067035. The Toronto Stock Exchange has neither approved nor disapproved of the information contained in this news release.

SOURCE: Absolute Software Corporation

Public Relations: 
Andrea Holland, HORN Group
[email protected] or 415.905.4030/805.390.0819

Marina Guy, Absolute Software
[email protected] or 604.730.9851 x107

Investor Relations:
Dave Mason, CFA, TMX|Equicom
[email protected] or 416.815.0700 x237

Kristen Dickson, MSc, TMX|Equicom
[email protected] or 416.815.0700 x273