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Clearlake Capital Group Backs HEAT Software to Acquire Absolute Manage and Absolute Service Businesses from Absolute SoftwareHEAT Software, a portfolio company of Clearlake Capital Group, today announced that it has reached a definitive agreement to acquire Absolute Manage and Absolute Service from Absolute Software Corporation. HEAT Software is a global provider of Hybrid Service Management and Unified Endpoint Management (UEM) solutions for organizations of all sizes. Financial terms of the deal were not disclosed. The acquisitions of Absolute Manage and Absolute Service are expected to close in October 2015. Absolute Manage is an integrated, best-in-class Client and Enterprise Mobility Management software solution. With Absolute Manage, organizations can manage and secure all of their mobile and endpoint devices from a single console, including PCs, Macs, iOS, Android (News - Alert) and Windows mobile devices. Absolute Manage, when combined with the existing HEAT endpoint management offering, significantly accelerates HEAT Software's gain in market share and enables the company to offer customers the most comprehensive and broadest device management capabilities in the industry. Absolute Service is an IT Service Management (ITSM) and Help Desk solution that enables automation of ITIL processes such as incident, change requests, software releases and service level agreements to improve customer assistance, streamline internal costs and verify compliance with policies and regulations. As one of the leading global providers of ITSM applications, HEAT Software will merge Absolute Service into the existing HEAT Service Management business unit offering customers the ability to deliver world-class service while maximizing operational efficiencies with reduced cost and complexity. Immediately after closing, all Absolute Manage and Absolute Service customers will receive full support of their existing products from HEAT Software, which has the scale and ability to serve enterprises across all geographies and verticals. "We are excited about this new acquisition. In bringing Absolute Manage and Absolute Service together with HEAT Software, we are combining organizations with outstanding people, products, partners and customers," said Behdad Eghbali and Prashant Mehrotra of Clearlake Capital Group. "This acquisition expands HEAT Software's scale, breadth of capabilities and resources to extend its leadership position in the market and to address the growing needs of its cients." "HEAT Software provides Hybrid Service Management and Unified Endpoint Management solutions, empowering IT, HR, Facilities, Customer Service and other enterprise functions to simplify and automate their business processes, manage and secure endpoints and proactively detect and protect against threats to business continuity," said Jon Temple, President & CEO of HEAT Software. "We are delighted to welcome the Absolute Manage and Absolute Service teams and have them join us in leveraging this opportunity to accelerate our market position." "We are looking forward to being part of the HEAT Software family and expanding the capabilities of our solutions. Absolute Manage is currently a technology partner of HEAT Software, so the acquisition provides a natural extension to the rapidly expanding UEM division of HEAT Software," said Peter Frankl of Absolute, who will become Senior Vice President of Endpoint Management Sales at HEAT Software. "With this acquisition, HEAT Software is very well positioned to directly address the convergence of endpoint device management and also the integration of ITSM capabilities with UEM; all of which will help enterprises to significantly enhance IT service delivery across the organization." About HEAT Software HEAT Software is a leading provider of Hybrid Service Management and Unified Endpoint Management software solutions for organizations of all sizes. With its suite of applications, HEAT Software is the only company in the world that provides, from a single platform, Service Management and Unified Endpoint Management software on-premise and in the cloud. HEAT manages millions of service interactions and millions of endpoints every day for thousands of leading organizations across IT, HR, Facilities, Finance, Customer Service and other enterprise functions. Its customers deliver world-class service while maximizing operational efficiencies with reduced cost and complexity. For more information, please visit www.HEATsoftware.com. About Clearlake Capital Group Clearlake Capital Group, L.P. is a private investment firm with a sector-focused approach. The firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake's operational and strategic expertise. The firm's core target sectors include industrials, energy and power; technology, communications and business services; and consumer products and services. Clearlake currently has approximately $3.2 billion of assets under management. More information is available at www.clearlakecapital.com. About Absolute Absolute Software Corporation (TSX: ABT) is the industry standard in persistent endpoint security and data risk management solutions. Persistence® technology from Absolute provides organizations with visibility and control over all of their devices, regardless of user or location. If an Absolute client is removed from an endpoint, it will automatically reinstall so IT can secure each device and the sensitive data it contains. No other technology can do this. Persistence technology is embedded in the firmware of computers, netbooks, tablets and smartphones by global leaders, including Acer, ASUS, Dell, Fujitsu, HP, Lenovo, Microsoft, Panasonic (News - Alert), Samsung, and Toshiba, and the Company has reselling partnerships with these OEMs and others, including Apple. For more information about Absolute, visit www.absolute.com.
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